Budget Control Act

Defense Spending Hasn’t Been Cut by $600 Billion

Beltway politicians like to pretend that smaller spending increases amount to spending “cuts.” As Dan Mitchell has pointed out numerous times (see here for one example), that’s baseline budgeting baloney. Now that the 2011 Budget Control Act’s spending caps are in place, politicians are making an even more ridiculous claim: the so-called “cuts” have already occurred.

Boehner’s Bogus Debt Ceiling Line in the Sand

Speaker Boehner says that the House will not pass another increase in the debt ceiling unless the White House and congressional Democrats agree to cut spending by an equal or greater amount. That’s the same line in the sand that Boehner drew during the previous debt ceiling showdown in 2011.

On to the Next Manufactured Fiscal Crisis

It seem like it was just yesterday that congressional Republicans took the national debt hostage even though shooting it was never an option. Having just taken back control of the House on a wave of popular discontent over the federal government’s mounting red ink, the pressure was on the GOP to deliver.

It didn’t — and now the rout is on.

Promises to Restrict Future Spending are Worthless

It appears likely that congressional Republicans are eventually going to accept a tax increase in exchange for real spending cuts smaller spending increases in the future. If and when that happens, Speaker Boehner should surround himself with Santa Claus, the Easter Bunny, and the Tooth Fairy at the press conference on the deal.

Groundhog Day II: The Fiscal Cliff

Back in May, I said that Congress would avoid the ‘fiscal cliff’ by agreeing to some sort of deal that would effectively kick the can down the road (yet again). According to Politico, a group of Senators are considering a can-kicking idea that immediately brought to my mind the movie Groundhog Day:

Paul Ryan Campaigns on Military Keynesianism

Speaking outside a helicopter museum in eastern Pennsylvania yesterday, Republican VP candidate Paul Ryan bemoaned the “irresponsible defense cuts” and subsequent job losses that would occur under the Budget Control Act’s sequestration spending cuts. That would be the same Budget Control Act that Paul Ryan voted for, and, at least initially, defended.

The Truth About Sequestration

Cato has just released a new video, titled “The Truth about Sequestration,” that tells the real story about sequestration, the automatic budget cuts required by the Budget Control Act.

Truth in Budgeting and Personnel Costs in the OCO

This week, likely on Wednesday, the full House of Representatives will take up the defense appropriations bill passed out of the Armed Services Committee in May.

Bipartisan Policy Center Rejects Bipartisan Budget Control Act

The Bipartisan Policy Center (BPC) has come out against bipartisan spending restraint. The BPC has issued a report highly critical of the sequestration spending cuts that were agreed to in the bipartisan Budget Control Act of 2011.

The Pentagon Budget: Myth vs. Reality

Over the past few weeks, a number of pernicious myths have popped up regarding the Pentagon’s budget. Here I want to dispel these myths with an exhaustive, and exhausting, look at the details. The charts below, compiled with my colleague Charles Zakaib, should help.

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