Putting the Sequester in Perspective

Senator John Cornyn
2013-02-26 15:59:54
THE LONESTAR WEEKLY Senator Cornyn�s E-Newsletter The Lonestar Weekly* Putting the Sequester in Perspective [link 1] What Does it Mean to Cut 2.4 Percent?* Every year, Texas families set budgets for their households. They determine how much to spend on necessities like groceries, rent or mortgage, gasoline, clothing, and more. For nearly four years, Democrat leaders in the U.S. Senate have failed to pass a budget for the nation. This is a basic and important responsibility that ensures our country is on sound fiscal footing. As a result, federal spending has gone up by 19 percent since 2008 and our gross national debt is now larger than the entire U.S. economy. Every child born in Texas and across the country comes into this world already responsible for more than $50,000 of our nation�s debt. Now, a spending-reduction plan called the �sequester� is scheduled to go into effect in a matter of days. It would cut federal spending by 2.4 percent. The sequester was proposed and signed into law by President Obama, but he now wants to avert the sequester by raising taxes on hard-working Texans. To sell his tax hikes alternative, President Obama is creating a state of alarm over cutting 2.4 percent from $3.5 trillion in government spending. To put this in perspective, let�s look at what a 2.4 percent cut to a family budget would look like. To reduce their spending by 2.4 percent, the average Texas family would need to: � � [image = www.cornyn.senate.gov/public//index.cfm Run cars on 94.7 gallons of gasoline a month instead of 97 gallons per month �� [image = www.cornyn.senate.gov/public//index.cfm Find $6 in savings from a $250 monthly grocery budget � [image = www.cornyn.senate.gov/public//index.cfm Look for ways to conserve $4.20 from a $175 monthly utilities bill � All working Americans had to figure out how to make ends meet with 2 percent less in their paychecks last month when the payroll tax expired. How is it that Washington can�t do the same? News Releases* *February 25: Cornyn in USA Today: Obama Needs to Take Charge on Debt Reduction [link 2] February 21: Cornyn Calls on Obama to Withdraw Hagel Nomination [link 3] February 21: Cornyn Requests Extension on Decision to List Lesser Prairie Chicken as Threatened Species [link 4] February 20: Cornyn Ranked 2nd Most Conservative Senator [link 5] February 19: Cornyn Responds to the President�s Call to Prevent His Sequester [link 6] February 14: Cornyn Statement on Hagel Vote [link 7] February 14: National Taxpayers Union Letter of Support for Balanced Budget Amendment [link 8] February 14: Americans for Tax Reform Letter of Support for Balanced Budget Amendment [link 9]* * February 13: NFIB Letter of Support For Balanced Budget Amendment [link 10] February 13: Cornyn, Senate Republicans Introduce Balanced Budget Amendment [link 11]* � Social Media* Sen. Cornyn regularly updates his profiles with the latest news and developments from around Texas and Capitol Hill. [image = cornyn.enews.senate.gov/images/twitter.gif] [link 12]� [image = cornyn.enews.senate.gov/images/facebook.gif] [link 13]� [image = cornyn.enews.senate.gov/images/youtube.gif] [link 14]� [image = cornyn.enews.senate.gov//images/user_images/Flickr.png] [link 15] Texas Times Column* *February 20: Texas Treasure Returns to the Alamo [link 16] February 5: Honoring Members of our Greatest Generation [link 17] January 28: Remembering the Crew of the Space Shuttle Columbia [link 18] December 14: Tales of Christmas Past In Texas [link 19] November 20: A Message of Thanksgiving [link 20] September 14: Cowtown On The Open Seas: Commissioning the USS Fort Worth [link 21] August 29: A Texas Town with an Abundance of Books [link 22] August 10: Back To School On The Texas Frontier [link 23] July 27: Don�t Mess With Texans� Hard-Earned Success [link 24] July 2: Remembering The Sacrifices Behind Independence Day [link 25] �* �*��*

Putting the Sequester in Perspective
What Does it Mean to Cut 2.4 Percent?

Every year, Texas families set budgets for their households. They determine how much to spend on necessities like groceries, rent or mortgage, gasoline, clothing, and more.

For nearly four years, Democrat leaders in the U.S. Senate have failed to pass a budget for the nation. This is a basic and important responsibility that ensures our country is on sound fiscal footing. As a result, federal spending has gone up by 19 percent since 2008 and our gross national debt is now larger than the entire U.S. economy. Every child born in Texas and across the country comes into this world already responsible for more than $50,000 of our nation�s debt.

Now, a spending-reduction plan called the �sequester� is scheduled to go into effect in a matter of days. It would cut federal spending by 2.4 percent. The sequester was proposed and signed into law by President Obama, but he now wants to avert the sequester by raising taxes on hard-working Texans.

To sell his tax hikes alternative, President Obama is creating a state of alarm over cutting 2.4 percent from $3.5 trillion in government spending.

To put this in perspective, let�s look at what a 2.4 percent cut to a family budget would look like. To reduce their spending by 2.4 percent, the average Texas family would need to:

    - Run cars on 94.7 gallons of gasoline a month instead of 97 gallons per month

   - Find $6 in savings from a $250 monthly grocery budget

 - Look for ways to conserve $4.20 from a $175 monthly utilities bill

All working Americans had to figure out how to make ends meet with 2 percent less in their paychecks last month when the payroll tax expired. How is it that Washington can�t do the same?

Social Media

Sen. Cornyn regularly updates his profiles with the latest news and developments from around Texas and Capitol Hill.

Twitter    Youtube  Flickr

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