Posted: 24 Feb 2013 in Politics

Hysteria no, not the song.

National Post | Full Comment

Even during this desultory economic recovery, one industry thrives — the manufacture of synthetic hysteria. It is, however, inaccurate to accuse the Hysteric in Chief of crying “Wolf!” about spending cuts under the sequester. He is actually crying “Hamster!”

As in: Batten down the hatches — the sequester will cut $85 billion from this year’s $3.6 trillion budget! Or: Head for the storm cellar — spending will be cut 2.3 percent! Or: Washington chainsaw massacre — we must scrape by on 97.7 percent of current spending! Or: Chaos is coming because the sequester will cut a sum $25 billion larger than was just shoveled out the door (supposedly, but not actually) for victims of storm Sandy! Or: Heaven forfend, the sequester will cut 47 percent as much as was spent on the AIG bailout! Or: Famine, pestilence and locusts will come when the sequester causes federal spending over 10 years…

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