What’s the Truth about Sequestration?

Today, President Obama claimed that the world was about to end unless congress acts to stop automatic cuts (sequestration) from being enacted. This amounts to a potential cut of only $85 billion–the Sandy disaster relief was around $60 billion.

UPDATE: Senator Rand Paul responded today in an interview with Western Kentucky Public Radio saying, “(We) have the President where we want him. These spending cuts will occur automatically, without a Presidential signature, and without the Democrats in the Senate voting for it.”

   MP3 Sen Rand Paul on WKU Public Radio 2/19/13

Hold on! Wasn’t the president promoting the cuts a few months ago? Judge for yourself:

November 21, 2011: I will veto any effort to get rid of those automatic spending cuts to domestic and defense spending.  There will be no easy off ramps on this one.

Cato put out this very informative short video that explains how the sequestration works–and how a reduction in the rate of increase is not a “cut.” This is an old Washington trick, and one we can no longer afford. (Via Rand Paul on Facebook.) UPDATE: Sen Paul also appeared on CNN AC360 last night.