Why would a Republican House, a Republican Senate and a Republican president repeal the best weapon against runaway federal spending in 30 years?
That may happen later this year if Congress doesn’t extend the Budget Control Act of 2011, which includes spending caps and sequester spending cuts if those caps are violated. The BCA has been one of the most successful anti-spending policies of modern times, and it helped bring the spending blitz during Barack Obama’s first two years in office to a screeching halt.
After the budget caps were installed, federal spending fell for three years in a row – the first time that had happened since the 1950s, despite the most liberal, pro-spending president since Lyndon Johnson, Barack Obama. Even the much-maligned sequester cuts of 2013 had a positive effect in cutting government domestic and defense spending by 3 or 4 percent across the board. Most Americans hardly noticed these modest cuts.
Both parties have come to hate budget caps and the threat of sequesters. There has always been a bipartisan urge on Capitol Hill to play Santa Claus, no more so than now. Republicans complain of the Pentagon cuts and Democrats object to the domestic-agency reductions. This …read more
Source:: World Net Daily