Lawrence Kudlow over at Investor Business Daily reminds us the federal government never, ever really “cuts spending.”
From Kudlow’s editorial today in IBD.
Here’s some friendly fiscal advice: Any time some Washington big shot like Ben Bernanke or Tim Geithner claims that immediate spending cuts in the debt deal will harm the economy — ignore them. Completely.
You know why? Because in this great country of ours, spending never goes down. Never.
Go read the entire post as it’s a good reminder as to what conservatives have been saying about the “budget” and budget process for years.
As a reminder, Connecticut keeps spending more and more as well. Connecticut’s most recent two-year budget of $40.2 billion…
[I]ncreases spending by 2.14 percent in the first year and 2.32 percent in the second year as the state tries to close a massive deficit that was created in part by the sluggish economy and high unemployment.
There are no cuts.
The game that is played is that one program is “cut to the bone” which will be – of course – a disaster for the people who “depend on” the program, while at the same time another program picks up the slack and starts spending even more money.