Every day this year, Washington politicians have tried to warn us . . . . frighten us . . . even threaten us. Increase government spending or America will collapse! First, the fiscal cliff . Then, the sequester . Next, the national debt ceiling . Spend, spend, spend! Or else! The president warned us that planes would fall from the sky and children would keel over dead from eating tainted meat if across-the-board spending cuts were to occur. We’re good. The amount of spending needed to be cut in the sequester is now only $44 billion . Consider these numbers in comparison: In January, Washington increased taxes on everyone earning $400,000 or more. Raising an additional $40 billion in tax revenue. Days later, Congress passed a $9.7 billion Hurricane Sandy relief bill . This paid the insurance claims for homes damaged in the storm. Then a second bill for $50.7 billion was passed that gave Sandy relief money to 47 of the 50 states plus the District of Columbia . Remember that $40 billion tax increase? Wiped out by $50 billion in Sandy pork. The very same week the $44 billion sequester was to go into effect? The US Federal Reserve quietly pumped $100 billion into major banks. Not US banks. European banks. [See the H.8 statement of the Federal Reserve ( here ). Go to page 18 line 25 and compare columns Feb 20 ($836.2B) and Feb 27 ($935.6B). The difference of $99.4B is the amount the Fed pumped into foreign banks in just that one week!] And we’re all footing the bill. Runaway spending is only the symptom. Washington politicians are the problem. Runaway Spending by Mark Hyman syndicated from The Land of the Free .
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