November 3, 2014

WHAT SHALL WE DO WITH THE SURPLUS?:

Congress makes history: This is a big deal ... Congress has cut spending two consecutive years (Paul G. Kengor, 11/03/14, Center for Vision and Values)

I recently attended a political event where a Republican congressman was making a re-election pitch. It was the usual stump speech. But one thing he said especially struck me. "This Congress has cut spending--yes, actually cut spending--each of the last two years," he asserted. "And how rare is that?"

Well, it would be extremely rare. So rare, in fact, that I frankly didn't believe the man. I made a mental note to check the data when I got home.

I delayed doing that. My incredulity got the best of me. Surely, the congressman was exaggerating. It's the political season, after all. I moved on. [...] I finally checked on his claims. I was shocked. He was correct: Congress cut spending from 2011-13. It was reduced from $3.60 trillion in 2011 to $3.53 trillion in 2012 to $3.45 trillion in 2013. The reductions are far from earthshattering, but, for the federal government, this is pretty much an earthquake.

This is the first time since 1953-55 that spending was cut in consecutive years--in literally over a half century.

Wow. I honestly didn't think I'd ever live to see it. I'm 47 years old, and this is the first time in my lifetime that a Congress has consecutively cut spending. For years, I've lectured, commented, and written about how Washington literally does not cut spending. I need to amend that. History has been made.

Posted by at November 3, 2014 6:30 PM
  

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