Rand Paul on the sequester: There are no real spending cuts happening
President Barack Obama has been trying to distance himself from spending cuts that are set to take effect on March 1st — cuts, by that way, that were his idea. The message of late is fear-mongering, telling Americans that these cuts, which are merely cuts in the rate of spending increases, would hurt military readiness and emergency responders.
On CNN earlier this week, Sen. Rand Paul discussed Obama’s message on the sequester and the budget realities that face Washington, even if these spending cuts take place as planned at the beginning of next month.
“He signed it into law, and now he’s going to tell us that, oh, it’s all our fault?” Sen. Paul told Wolf Bitzler, noting that he didn’t vote for the bill because the cuts weren’t deep enough. “The sequester cuts the rate of growth of the spending, but the sequester doesn’t even really begin to cut spending, which we have to do or we are going to get a credit downgrade, another credit downgrade.”
Sen. Paul, who has proposed billions in spending cuts, noted that the sequester is “pittance” that, as noted above, is only a “slowdown in the rate of growth.”
“There are no real cuts happening over 10 years,” Sen. Paul explained. “Over 10 years, the budget will still grow $7 trillion to $8 trillion. He added $6 trillion to the debt in his first term. He’s on course to add another $4 trillion to $6 trillion in his second term.”
And while some Republicans, specifically neo-conservatives, are trying to prevent the planned defense spending cuts from taking place, Sen. Paul pointed out that the United States accounts for “47% of the total world spending on military.”
“We spend more than the next 14 countries combined,” Sen. Paul told Biltzer. “Now, I’m a big national defense guy. I think it’s the most important thing we do in Washington is national defense, but I do think there’s room for cutting.”
Watch the full segement with Sen. Paul: