How much of the annual budget is sequestration?
Because You Asked
- Duration 2:46
- Date Feb 26, 2013
Because You Asked
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US John -- months.
-- -- -- -- what's the percentage of increase spending vs the 85 billion dollar cut.
That's being proposed of course there goes the sequestration as of Friday.
Call president and financial group LLC how you doing -- and good morning great to you.
Is -- answer -- that question.
Not probably a simple hence -- if you or break it down but if you look at the percentage he wants to know what percentage of all of that 85 million billion is looking at.
Well the -- -- supposedly for 2013.
The essence right now by the CBO.
About three point six trillion dollars LA's out of our government so that 85 billion that could be cut.
Only 2.4 percent so people are making this huge deal about this this 85 billion we avoid cutting 2.4 percent.
I'll be outlays of -- -- has houses are making the case that is not even to four cents or two point Forbes and -- even less than that on the screen now.
And fourteen look on the screen on the far right.
Our spending is actually increasing this year and again even more 72014.
You see that point there.
Well the point -- I mean that that's a big argument think the Republicans have been saying for the most president.
You know this is not I think it's a spending issue it's not a revenue issue as much as a spending issue even with -- -- goes through we're still increasing spending any time that we need be cutting spending right now so that that question is great because a lot of people don't put the numbers in perspective -- just think OK 85 billion.
Why you're cutting so much but -- reality TV show what we're still spending more -- you have to point to that this is not a hard and fast deadline this comes in gradually it's not like some of the other battles we've seen recently.
Do you agree with -- Associated Press -- in the markets every day.
Is the government holding American business back.
I'm going for.
I really do Bob leave that for regulations and obviously very important regulations are getting tougher.
But the one word that I hear from people and one word that I think sticks in my in my I've been saying for years how to fix this issue its confidence.
A lot of American majority of Americans say do not have confidence in -- government right now I don't care if you're in -- right or no less.
Without that confidence -- spending less without that confidence you're not gonna go out and start a brand new business.
Entrepreneurship has always brought this country.
Out of recessions we're not CNET right now so in my mind the government standing in the way of us coming out of this we had negative point 1% growth last quarter that's not a recovery.
Win it means there's obviously the government's doing something they're standing in our way through a lot of different angles -- regulation whether it be taxes.
Lack of confidence you make some great points thank you -- talk again okay -- when I saw here in studio to viewers at home.
-- -- -- foxnews.com is the email also -- Twitter -- Bill Hemmer fire away under forty characters -- months anyway because US thank you.