Sequester - Its Meaning
Jason P
Posts: 19,138
Per Merriam-Webster:
Verb
Isolate or hide away (someone or something)
Noun
A general cut in government spending.
:think:
I think our leaders are racing to find a way to "verb" the "noun".
Verb
Isolate or hide away (someone or something)
Noun
A general cut in government spending.
:think:
I think our leaders are racing to find a way to "verb" the "noun".
Post edited by Unknown User on
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Comments
I thought the political definition was sticking your head up your ass, then shooting yourself in the foot.
Hail, Hail!!!
And then pointing your finger at the other guy and screaming "HE DID IT!"
"...I changed by not changing at all..."
This maybe why reporters are afraid to report the facts.
The Woodward reporting has caused the White House spin machine to sputter at a crucial time. The president was running around the country, campaign-style, warning that Republicans were at fault for the massive cuts set to hit Friday. What Obama never says: it was his own staff that proposed sequestration, and the tax hikes he now proposes – aimed at replacing half of the cuts — were never part of that very specific plan.
The White House instead has, with great success, fudged the facts. The administration has convinced a majority of the country that Republicans are more to blame by emphasizing that Republicans voted for the plan. Which they did — after Obama conceived it.
The truth is that Obama and Republicans supported it because everyone believed it was a such a stupid idea that the grown-ups in Washington would never actually let it happen. They thought Obama and Congress would come up with a grand bargain on spending, entitlement cuts and tax increases, instead of allowing the sequestration ax to fall. They were wrong.
So the blame game is full swing – and Woodward is smack in the middle of it. The Obama White House is out to discredit him. Behind the scenes, Obama allies are spreading word that the Woodward book broadly — and his reporting on sequestration specifically — are misleading because Republicans, especially House Majority Leader Eric Cantor of Virginia, were so clearly among the chief sources.
Read more: http://www.politico.com/story/2013/02/w ... z2M9sXPTjx
Yes, we can only imagine that the "Obama aide" might raise his voice at Woodward once he'd heard Woodward's underlying claim about Obama "moving the goalposts," which was embarrassingly mis-premised and which Brian Beutler, among others, shredded into confetti. "They're all going to laugh at you!" we imagine this Obama aide might have yelled.
Another old white cry baby who didn't get his way...falls down and goes boom.
http://www.huffingtonpost.com/2013/02/2 ... 78007.html
I. Agriculture
The Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act has always tempted members of Congress to feed themselves at the trough. However, earmarks were drastically reduced in the FY 2012 appropriations bill. There were only two earmarks, a 99.6 percent decrease from the 475 in FY 2010, which cost $10.3 million, a 97.4 percent decrease from the $396.5 million in FY 2010. Both earmarks were directed to the Rural Utilities Service (RUS).
$9,500,000 for high energy cost grants. Such grants are available for “improving and providing energy generation, transmission and distribution facilities serving communities with average home energy costs exceeding 275% of the national average.” Both the Bush and Obama administrations targeted high energy cost grants, which are duplicative of the Department of Agriculture’s Electric Loan Program, for elimination. Apparently members of Congress did not get the memo.
$810,000 for a guaranteed subsidy. The U.S. government occasionally guarantees loans taken out in the private sector, which means the government assumes all risk for its part of the transaction. This results in lower interest rates for borrowers. In effect, this earmark is meant to account for expected losses from loans handed out by the RUS.
II. Defense
The budget for the DOD Appropriations Act usually contains the most earmarks each year, and the FY 2012 bill did not break this tradition. While the amount and cost of earmarks was substantially reduced from FY 2010, the legislation still contained 68 earmarks costing taxpayers $2 billion. This represents a 96.1 percent decrease in earmarks from the 1,752 in FY 2010 and an 80.6 percent decrease in cost from the $10.3 billion in FY 2010. The $2 billion in earmarks represents 60.6 percent of the $3.3 billion contained in the 12 appropriations bills for FY 2012.
$255,000,000 for continued upgrade of the M1 Abrams tank to the M1A2SEP variant, despite DOD’s proposal to suspend tank production until 2017 in order to achieve savings. According to a December 16, 2011, article in the Daily Tribune, supporters of the upgrade warned that “idling the program as the Iraq and Afghanistan wars wind down would jeopardize tens of thousands of jobs at more than 560 businesses across the nation.” The article reported that Rep. Sander Levin (D-Mich.) said the continued funding for the M1 “is an important victory for Michigan and the nation. The tank upgrade program is critical to ensuring our troops are protected on the battlefield and vital to southeast Michigan’s defense corridor.” Rep. Levin’s December 16, 2011, press release boasted of the benefit to local contractor General Dynamics Land Systems, based in Sterling Heights, and to more than 200 Michigan businesses that supply parts and services for the program.
Rep. Levin and House Armed Services Committee member Mike Rogers (R-Ala.) spearheaded a letter on May 6, 2011, signed by 135 representatives, to Army Secretary John McHugh arguing for continued funding for the M1 tank. While cooperation between Republicans and Democrats is a rare occurrence, pork remains the last bastion of bipartisan politics. Reps. Levin and Rogers may not have their names attached to this earmark, but their fingerprints are all over it. Since FY 1994, there have been 31 earmarks costing taxpayers $519.2 million for the M1 Abrams tank program.
$239,000,000 for five earmarks funding peer-reviewed cancer research, including studies on breast cancer, lung cancer, ovarian cancer, and prostate cancer. Funding research on endemic cancers is a responsible use of taxpayer money. However, the Labor, Health and Human Services, Education and Related Agencies (Labor/HHS) Appropriations Act of 2012 provided $5.1 billion for the National Cancer Institute, making the earmarks in this bill redundant. According to a March 14, 2012, Washington Post article, Defense Comptroller Robert Hale proposed decreasing the DOD health budget in FY 2013 in part by eliminating “one-time congressional adds” in which members of Congress appropriate funding for research on specific diseases. This apparently had no impact on Congress’ spending addiction.
$120,000,000 for three earmarks of $40,000,000 each for alternative energy research within the Air Force, Army, and Navy. On March 13, 2012, Senate Armed Services Committee Ranking Member John McCain (R-Ariz.) asserted that the Navy’s efforts to develop biofuels to power its planes and ships could devolve into a “Solyndra situation,” citing the solar panel manufacturer that received a $535 million loan guarantee through the Department of Energy before filing for bankruptcy in September 2011. According to Sen. McCain, the Navy has spent in excess of $400 per gallon for approximately 20,000 gallons of algae- based biofuel. In a February 2011 hearing, House Armed Services Readiness Subcommittee Chairman Randy Forbes (R-Va.) fired a shot across the Navy’s bow, telling Navy Secretary Ray Mabus, “You’re not the secretary of Energy. You’re the secretary of the Navy.” The FY 2012 Energy and Water Development Appropriations Act supplies $3.2 billion for alternative energy research. While searching for alternative energy options, Congress must ensure that taxpayers do not get burned.
$50,000,000 for the National Guard for Counter-Drug Program state plans. Formerly earmarked to individual states, the program, which allows for the use of military personnel in drug enforcement operations within the states, is now funded in one bundle as a work-around to the earmark moratorium. The Drug Enforcement Administration, with a budget of $2 billion, is already responsible for these activities. Since FY 2001, there have been 63 earmarks costing taxpayers $281.1 million for the National Guard Counter-Drug Program. Members of Congress who have inserted earmarks for this program in the past include perennial porkers such as Senate Majority Leader Harry Reid (D-Nev.), Senate Appropriations Committee Chairman Daniel Inouye (D-Hawaii), Senate Minority Leader Mitch McConnell (R-Ky.), House Appropriations Committee Chairman Harold Rogers (R-Ky.), and former senator Ted Stevens (R-Alaska).
$8,000,000 for Global HIV/AIDS prevention. The Labor/HHS Appropriations Act of 2012 provided $2.3 billion for the HIV/AIDS Bureau for various assistance, treatment, and prevention programs. The Department of State, Foreign Operations, and Related Programs Appropriations Act provided an additional $5.5 billion to the State Department for HIV/AIDS programs, making this earmark duplicative.
$5,100,000 for peer-reviewed autism research. Within the FY 2012 Labor/HHS appropriations bill, $69.1 million is already set aside for research on autism.
$5,000,000 for the Starbase Youth Program, which teaches science, technology, engineering, and math (STEM) to at-risk youth in multiple locations at or near military bases around the country. A February 7, 2012, Washington Post article criticized the role of Senate Defense Appropriations Subcommittee member Tim Johnson (D-S.D.), along with seven other senators, in directing $4 million to the Starbase program in 2008. During this timeframe, Sen. Johnson’s wife worked for the Spectrum Group; she was tasked with evaluating Starbase as well as managing its website. After hiring Mrs. Johnson, the Spectrum Group submitted a lobbying registration form listing Mrs. Johnson as a lobbyist, although the company later claimed the form was submitted in error. Since FY 2001, six earmarks costing taxpayers $19 million have been directed toward Starbase, including an earmark worth $1.9 million in FY 2010 added by Sen. Amy Klobuchar (D-Minn.) and Rep. Keith Ellison (D-Minn.).
A February 2012 GAO report on program duplication, overlap and fragmentation found that $3 billion was spent in FY 2010 across 13 agencies for 209 STEM programs, 83 percent of which overlapped with at least one other program. Eliminating the Starbase Youth Program would reduce that number to only 208.
$3,200,000 for peer-reviewed bone marrow failure disease research. This funding is redundant, since there is $23.4 million for research on bone marrow disease in the FY 2012 Labor/HHS appropriations bill.”
III. Energy and Water
The Energy and Water appropriations bill has always been flooded with pork. The Appalachian Regional Commission (ARC) and the Army Corps of Engineers have received many of these earmarks. The ARC was not the recipient of any earmarks in FY 2012, but money is still flowing to the Corps of Engineers. While the number of Corps of Engineers earmarks dropped from 482 in FY 2010 to 36 in FY 2012, a decrease of 93 percent, the average dollar value swelled from $1.1 million to $14.7 million, an increase of 1,236 percent. On the bright side, earmarks in the Energy and Water Appropriations bill are on the decline. After climbing to a total of 929 projects at a cost to taxpayers of $1.2 billion in FY 2010, the number of projects dropped by 95.1 percent to 46 in FY 2012, and spending dropped by 44.4 percent to $667.6 million in FY 2012.
$111,099,000 for flood control by the Army Corps of Engineers, $9 million of which will go to “ongoing projects.” Since 1996, CAGW has unveiled 320 Corps of Engineers flood control earmarks worth a total of $523.4 million. In FY 2010, porkers in this category included Senate Appropriations Committee Chairman Daniel Inouye (D-Hawaii) and Senate appropriators Mary Landrieu (D-La.) and Frank Lautenberg (D-N.J.).
$74,145,000 for navigation construction, which has received 41 earmarks worth a total of $117.7 million since 1999, including $50,000 in 2005 for the Cleveland Lakefront State Park.
$35,031,000 for National Energy Technology Laboratory (NETL) coal research and development. The NETL, headquartered in Pittsburgh, “supports the Department of Energy’s mission to advance the national, economic, and energy security of the United States.” There were three NETL earmarks worth a total of $19.5 million in 2005, when former Rep. Alan Mollohan (D-W.Va.) secured $10.5 million for NETL’s facility in Morgantown and other members anonymously added $9 million.
$34,000,000 for navigation maintenance, which has received 14 earmarks worth a total of $70.4 million since 1999.
$13,840,000 for hydropower construction. New York seems likely to benefit from this earmark. Since 2008, Sen. Chuck Schumer (D-N.Y.) and Rep. Eliot Engel (D-N.Y.) have teamed up on four hydropower earmarks worth a total of $7.7 million.
$10,084,000 for the Chicago Sanitary and Ship Canal Dispersal Barrier, which has received a total of $14.2 million from nine earmarks since FY 1998.
$3,000,000 in additional funding for ongoing shore protection, which has received $21.9 million in earmarks since 1998. In FY 2010, Sen. Frank Lautenberg (D-N.J.) secured $4.9 million for New Jersey shore protection, which may be a good Situation for Snooki, but not for taxpayers.
$3,000,000 for aquatic plant control. Since 1994, there have been 15 earmarks worth a total of $17.9 million for aquatic plant control projects, including two by Sen. Chuck Schumer (D-N.Y.), and one each by Sens. Patrick Leahy (D-Vt.) and Jeff Sessions (R-Ala.).
IV. Financial Services
The amount of earmarks in the Financial Services and General Government Appropriations Act decreased by 99.6 percent from 270 in FY 2010 to just one in FY 2012. The cost of earmarks declined by 40.8 percent from $65 million in FY 2010 to $38.5 million in FY 2012. Members of Congress should be congratulated for eliminating the numerous earmarks for the Small Business Administration, long a prime repository for pork. However, the lone earmark in the bill is a stain on an otherwise pork-free piece of legislation.
$38,522,000 for the high intensity drug trafficking areas program (HIDTA) at the Office of National Drug Control Policy (ONDCP). After 40 years and $1 trillion spent, drug use among Americans has not changed much, while some reports suggest drug use among teenagers has increased in the last three years. ONDCP Director Richard Kerlikowske has admitted the shortcomings of the War on Drugs, stating in May 2010, “In the grand scheme, it has not been successful. Forty years later, the concern about drugs and drug problems is, if anything, magnified, intensified.”
Of course, this lack of progress has not stopped taxpayer money from flowing to the ONDCP, which received a $27.1 million appropriation in FY 2011. In addition to its regular budgetary allowance, the ONDCP has received 16 earmarks worth $118.5 million since FY 1997. In FYs 2008-2009, House Appropriations Committee Chairman Harold Rogers (R-Ky.) and Senate Financial Services Appropriations Subcommittee Chairman Dick Durbin (D-Ill.) earmarked $4.8 million for the ONDCP. Since FY 1997, 28 earmarks costing taxpayers $117.5 million have been directed for HIDTA programs in 10 states. Originally meant for border states, members of Congress have used earmarks to expand the program to non-border states. For example, three earmarks for HIDTA programs in Tennessee, totaling $12 million between FY 2008 and FY 2010, were added by both of the state’s senators, along with three Democratic representatives in various years.
V. Homeland Security
After a steady decline from FY 2007 to FY 2009 from its peak of $2.7 billion in FY 2006, Homeland Security pork rose again in FY 2010. Fortunately, the downward trend in earmarks is back for FY 2012. The number of projects in the FY 2012 Homeland Security Appropriations Act decreased by 96.5 percent, from 173 in FY 2010 to six in FY 2012, while the dollar amount decreased by 63.8 percent, from $242.8 million in FY 2010 to $87.9 million in FY 2012.
$48,500,000 for the National Domestic Preparedness Consortium (NDPC), which is 109 percent more than the President’s $44.5 million budget request. The NDCP has received six earmarks worth a total of $197.4 million since FY 2005, including $105 million in that year. Past NDCP earmarks have been added by House Appropriations Committee Chairman Harold Rogers (R-Ky.) and Sens. Tom Udall (D-N.M.) and Jeff Bingaman (D-N.M.). One of the NDPC’s members is the Energetic Materials Research and Testing Center in Socorro, New Mexico, which, thanks to Sen. Bingaman, received a $10.2 million earmark in FY 2010.
$6,900,000 for UH-60 Black Hawk helicopter conversions. On its website, Sikorsky, the Connecticut-based manufacturer, describes the Black Hawk as “versatile, dependable, and rugged.” While those characteristics may be true of the aircraft, they also apply to Congress’s penchant for earmarking funds for Black Hawks. Since 1996, there have been 18 earmarks totaling $571.7 million for Black Hawk upgrades, modifications, and purchases.”
VI. Interior
The number of earmarks in the Department of the Interior, Environment, and Related Agencies Appropriations Act is down by 97.4 percent, from 548 in FY 2010 to 14 in FY 2012, while the total dollar amount dropped by 74.4 percent, from $361.1 million in FY 2010 to $92.3 million in FY 2012. Most notable among the missing earmarks this year is the Save America’s Treasures program, which was recommended for the chopping block in President Obama’s FY 2010 Terminations, Reductions, and Savings, and eliminated by Congress in March 2011.
$8,408,000 for Heritage Partnership Programs through the National Park Service. Since 2001, Heritage Partnership Programs have received 48 earmarks worth a total of $28.7 million for a wide array of initiatives including park improvements, sports complexes, health centers, water quality monitoring, bike paths, sustainable agriculture, and agricultural tourism. President Obama’s FY 2012 Terminations, Reductions, and Savings recommended halving this program’s funding, citing that criteria “have not been established to evaluate potentially qualified NHS sites,” adding that “sites have been authorized that do not necessarily warrant designation.” It would be far better for the country’s financial heritage to terminate this program.
$3,432,000 for Valles Caldera National Preserve in New Mexico. Since 2001, Valles Caldera has received six earmarks worth $13.7 million, due in large part to the efforts of Sens. Tom Udall (D-N.M.) and Jeff Bingaman (D-N.M.) along with former Sen. Pete Domenici (R-N.M.), who collectively requested earmarks for the preserve in 2008 and 2009. On December 17, 2011, Sen. Bingaman boasted on his website that he and Sen. Udall had voted for the FY 2012 Omnibus Spending Bill, and that its approval would secure funds for Valles Caldera. An earmark by any other name, even during a moratorium, is still an earmark.
$3,388,000 for national fish hatchery system operations. Taxpayers have long been swimming upstream against the river of cash flowing to various fish hatcheries across the country, which have received 64 earmarks worth a total of $81.7 million since 1991.
$1,000,000 for an Environmental Protection Agency (EPA) geographic program in the San Francisco Bay, which has received past earmarks. In both FYs 2008 and 2009, Sen. Dianne Feinstein (D-Calif.) snagged $5 million in earmarks for EPA “restoration” in the Bay. Since the San Francisco Bay lies within the state of California, it seems reasonable to leave funding for these projects up to Golden State taxpayers, not their counterparts across the country.
$1,000,000 ffor an EPA geographic program on Lake Champlain. Since FY 2001, there have been 11 earmarks worth a total of $5.8 million for projects on Lake Champlain, including a $650,000 trail construction project. Since FY 2008, Senate appropriator Patrick Leahy (D-Vt.) has requested four earmarks worth a total of $3 million for Lake Champlain (which he once tried to designate as the sixth Great Lake). One of those earmarks was a $1.8 million increase above the President’s budget for the EPA’s Lake Champlain program in FY 2008, which looks very similar to this year’s earmark.
VII. Labor, Health and Human Services, and Education (Labor/HHS)
Taxpayers received a much-needed break from earmarks in the FY 2012 Labor/ HHS Appropriations Act due to dramatic declines in projects and cost compared to FY 2010. Projects declined by 99.8 percent, from 1,789 in FY 2010 to three in FY 2012, while their total cost declined by 97.2 percent, from $813.8 million in FY 2010 to $22.4 million in FY 2012.
$14,918,000 for Rural Hospital Flexibility Grants (Flex) through the Department of Health and Human Services. Flex grants were also earmarked in FY 2006 to the tune of $64.2 million.
$5,000,000 for abstinence education. Since FY 2001, members of Congress have directed 126 earmarks for abstinence education, costing taxpayers $8.2 million. In FYs 2008 and 2009, former Sen. Arlen Specter (D-Pa.) managed to steer $1.4 million to a total of 47 abstinence education earmarks across Pennsylvania. Rumor has it that he still thinks of earmarking dozens of times each day.
VIII. Military Construction
Members of Congress have a history of raiding the Military Construction, Department of Veterans Affairs, and Related Agencies Appropriations Act (MilCon) for frivolous projects. There have been 51 earmarks worth $310.9 million since FY 1991 for fitness centers on or near Army, Air Force, and Navy bases, along with 19 earmarks worth a total of $126.9 million for military chapels across the country. Fortunately for taxpayers, the number of MilCon earmarks is down by 98.4 percent, from 182 in FY 2010 to three in FY 2012, and their cost is down by 91.9 percent, from $1.1 billion in FY 2010 to $89 million in FY 2012.
$14,630,000 for repairs to the Scott building at the Armed Forces Retirement Home (AFRH). AFRH also received a $5,000,000 earmark in FY 2000.
IX. State and Foreign Operations
Although Congress finally eliminated funding for the International Fund for Ireland, earmarks still exist in the Department of State, Foreign Operations, and Related Programs Appropriations Act. The number declined by 42.9 percent, from seven in FY 2010 to four in FY 2012. The cost decreased by 39 percent, from $209.4 million in FY 2010 to $127.7 million in FY 2012.
$114,770,000 for the United Nations Democracy Fund (UNDEF), which supports global democratization efforts. Since FY 2001, UNDEF has received three earmarks totaling $351.8 million. The Obama administration has never requested funding for UNDEF.
$5,870,000 for the East-West Center in Hawaii. Meant to promote improved relations among Pacific nations, the East-West Center has received 10 earmarks worth a total of $103.8 million since FY 1997. In a moment of rare candor, Senate Appropriations Committee Chairman Daniel Inouye (D-Hawaii) admitted in 2007, after receiving an award from the center, that it was created in 1960 without congressional hearings and over State Department opposition. The State Department has tried to kill the organization for years by not requesting any money in the department’s budget request. Funding for the East-West Center might have gone south by now if it were not located in the chairman’s home state.
$5,009,000 for the International Fisheries Commission (IFC). Made up of various marine conservation organizations and commissions, the IFC has received seven earmarks totaling $29.1 million since FY 1997. Congress should let taxpayers off the hook and tell the IFC to go fish for money elsewhere.
$2,094,000 for the Asia Foundation, which is “committed to the development of a peaceful, prosperous, just, and open Asia-Pacific region.” Since FY 1997, members of Congress have directed eight earmarks totaling $49.6 million to the Asia Foundation.
X. Transportation/Housing and Urban Development (THUD)
Like most other bills this year, the FY 2012 Transportation, Housing and Urban Development, and Related Agencies Appropriations Act experienced a steep decline in earmarks. Only five earmarks were inserted into the bill, a decrease of 99.7 percent from the 1,483 in FY 2010. The FY 2012 earmarks cost taxpayers $115.5 million, a decrease of 90.4 percent from the $1.2 billion in FY 2010.
$44,000,000 for research and university research centers. From FY 1994 to FY 2010, 42 earmarks worth a total of $66.9 million were directed to university research; the FY 2012 total represents 65.8 percent of the total amount earmarked in all previous years. Prior earmarks were spread among 12 states and were requested by leading porkers such as Senate Minority Leader Mitch McConnell (R-Ky.), Senate appropriator Richard Shelby (R-Ala.), and 2007 Porker of the Year, former Rep. Alan Mollohan (D-W.Va.).
$9,980,000 for assistance to small shipyards, awarded for “capital improvements and related infrastructure improvements at qualified shipyards that will facilitate the efficiency, cost effectiveness, and quality of domestic ship construction for commercial and Federal Government use.” Appropriators in the House of Representatives did not add funding for this program.”
$6,000,000 for a small community air service development program, which provides “financial assistance to small communities to improve their air service.” Communities with airports that have been classified as “small hub” or a lesser size by the Department of Transportation are eligible to apply for the program, which is eerily similar to, and just as non-essential as, the Essential Air Service.”
This booklet was written by Sean Kennedy, Manager of Research and Luke Gelber, Media/Policy Associate. It was edited by Thomas A. Schatz, President.
I agree that relatively speaking it's not much...but a couple billion - hell, even A billion - isn't small potatoes over time.
(sidenote - remember when a million dollars seemed like a shitload of money? Gone are those days)
But back on track, if I saw my own budget/spending was way out of line for my means, ie, vs my income, and looked to see where I could realistically trim the excess, and COULD make those reductions or eliminations even by a little bit to chip away at debt (this is hypothetical by the way; we're actually responsible in our personal finances), why wouldn't I?
Shit adds up.
SHOW COUNT: (159) 1990's=3, 2000's=53, 2010/20's=103, US=118, CAN=15, Europe=20 ,New Zealand=2, Australia=2
Mexico=1, Colombia=1
Upcoming: Aucklandx2, Gold Coast, Melbournex2
Granted I didn't read the whole thing.... did it mention the billions of dollars we give to subsidize the oil industry?
Go figure.
Well I don't think anyone said the sky would fall in three days.
But there are a lot of problems that are going to start to pop up (one wonders how upset the Benghazi crowd is going to be now that security at foreign embassies has been slashed) and as people's next paychecks come in 20% lower... that's going to have a pretty serious impact on the economy that's just started to finally show strong signs of rebound.
Anyone who was saying that the effects would be overwhelming in 3 days doesn't understand how these things work.
Ultimately, I think the cuts (even though small in the big picture) will be a good thing. It finally makes our leaders do what we have been doing for the last five years … learning to live within our means.
(and not *just* the last five years either)
The economic crisis isn't created by "entitlements" like food stamps and welfare and social security.
It's created by our military spending which has become so bloated and ballooned that we now account for over one third of ALL the money spent in the entire WORLD on defense... most of it to independent contractors who aren't accountable to anyone.
It's created by banks that can gamble all they want and take all the risks they want because we bail them out when they lose everything.
It's created by outsourcing all of our jobs to third world countries.
It's created by not taxing people who have money. Or creating so many absurd loopholes that 1% of the country has 80% of the money and only pays about 40% of the taxes. And the Republican Party is so bought and paid for that their only job is to lower those taxes more and blame the desperately poor people who are literally dying from poverty.
There's plenty of money but we're spending what we have in asinine places and we're not taxing the people who are making the most money from our warped system.
(and Barack Obama has spent way less than any president in the last few decades... most of the money he's credited with "spending on national debt" is money that we're paying on things bought by George W Bush that HE couldn't pay for AND the debt ceiling thing - brought on by the Republican Tea Tards - raised our interest rates so we're paying more for those expenditures.)
And you get this "40%" stat where?