For the rest of this week, you and I will hear nothing but talk about sequester on our televisions.
Politicians of both parties in Washington are running around like chickens with their heads cut off, scaring the American people into believing that massive budget cuts loom on the horizon.
I'm here to tell you folks that what you hear on TV is not true.
There is not a single dime's worth of spending cut from the federal budget due to sequester. I've read the Budget Control Act of 2011, and you should too.
The 29-page Budget Control Act of 2011 caps the amount of money the feds can spend each fiscal year from now until 2021. For fiscal year 2013, the feds cannot spend more than $686,000,000,000 in the security category and $361,000,000,000. Again, there are no cuts, just caps on spending.
So what we’re seeing here is politicians of both parties arguing against a cap on spending. Democrats and Republicans in Washington want to spend more of our money without the limits imposed by the Budget Control Act of 2011.
Read. The. Bill. It is all there.