D.C. Hysteria As Sequester Takes Hold of A Drop-In-the Bucket of Bloated Federal Budget

KUDLOW: NO SEQUESTRATION CATASTROPHE COMING

@ ZERO HEDGE---DRUNKENMILLER:  I SEE A STORM COMING

EVEN IF YOU HAD AN OUNCE OF RESPECT LEFT for our federal nannies of both parties, especially in the White House where the sequestration idea was hatched,  it should be all gone after  hysterical predictions of financial armaggadon with theatrical hand-wringing were screamed from the rooftops throughout the land. 

Never mind this was the Obama cabinet's (and his) idea in the first place, and never mind he's probably sleeping tight relieved that it's all coming down today in spite of   protests to the contrary,  you and I are still supposed to take the bait and think it is the end of the world as we know it. Nevermind Congress hasn't passed a budget in several years and our country is broke.  We are to believe we will never make it through security check points at airports again and all miss our flights until the end of time. We are also suppose to believe it's all the GOP's fault.

 But it not by a microsopic long shot.  It's the fault of both parties and years of federal over-reach and over-nannying for things governments were never designed to do.

Enter again my favorite fiscal reality writer, John Tamny, who is glad to put this whole  thing into perspective.  Not only does Tamny dispel our doubts in his RealClearMarkets piece,  he tells us what the  'unseen' tragedy of this whole thing really is:

This Friday marks the day that automatic federal spending cuts will take place thanks to an incompetent political class willfully blind to constitutional limits. Though reductions on the order of $86 billion are truly microscopic, politicians and their media enablers are predictably predicting economic Armageddon thanks to a tiny cut in planned spending increases.

As USA Today put it on Monday, "Coming soon, the lines at airport security might get longer, the hours of service [horrors!] at Head Start centers might get shorter and the FBI might have fewer agents tracking down bad guys." Fearful of "fewer teachers, reduced medical care, idle defense workers and other job-killing reductions in all 50 states," our economically obtuse President in Barack Obama has naively asserted that "The longer these cuts are in place, the bigger the economic impact will become."

First, let's all relax. If we ignore that even under the sequester that federal spending is expected to soar to $5.9 trillion annually over the next ten years, the hysteria is wildly overdone .Indeed, lost in all this talk if the economic burden that is our federal government is even slightly restrained is what it means for all of us who shoulder the aforementioned burden. Put plainly, can any reader honestly say he or she doesn't have better things to do with the income our federal minders take from us in order to run the favor factory that Washington has become? Might we have paid off loans, purchased for our basic needs, and possibly invested our disposable income in profit-disciplined companies that actually have a clue about productivity?

Do read the whole thing and note again that federal workers in Washington, D.C. are some of the highest paid workers in ths country, as Americans are taxes to the hilt so Washington can bail out the Wall Street banks and a host of other ill-advised solar energy companies. In other words, the feds are flushing our hard-earned money down the toilet and then wringing their hands about it. What a disgrace. What a lie. What a complete farce. Thanks again, John, for putting the real issues into perspective so we'll continue to know what and what not to worry about---no matter what the msm tells us.