The Pro-Growth Sequester No, it’s not Armageddon.
The Obama administration is whipping up hysteria over the sequester budget cuts and their impact on the economy, the military, first providers, and so forth and so on. Armageddon.
But if you climb into the CBO numbers for 2013, you see a much lighter and easier picture than all the worst-case scenarios being conjured up by the administration.
For example, the $85 billion so-called spending cut is actually budget authority, not budget outlays.
According to the CBO, budget outlays will come down by $44 billion, or one quarter of 1 percent of GDP. (GDP is $15.8 trillion.)
Read More at investors.com . By Lawrence Kudlow.