|In case you missed it, House Speaker John Boehner wrote in the Wall Street Journal today about the sequester, a looming budget crisis created by the President in the summer of 2011 in order to put off any spending cuts or the threat of another debt ceiling increase until after his reelection.
As the Speaker said to the President, Republicans “agree that your sequester is bad policy. What spending are you willing to cut to replace it?”
The President Is Raging Against a Budget Crisis He Created
By JOHN BOEHNER
A week from now, a dramatic new federal policy is set to go into effect that threatens U.S. national security, thousands of jobs and more. In a bit of irony, President Obama stood Tuesday with first responders who could lose their jobs if the policy goes into effect. Most Americans are just hearing about this Washington creation for the first time: the sequester. What they might not realize from Mr. Obama’s statements is that it is a product of the president’s own failed leadership.
President Barack Obama lays out the consequences to the national economy and recovery efforts if congress doesn’t come to an agreement on the looming sequester, set to kick in on Friday. Photo: Getty Images.
The sequester is a wave of deep spending cuts scheduled to hit on March 1. Unless Congress acts, $85 billion in across-the-board cuts will occur this year, with another $1.1 trillion coming over the next decade. There is nothing wrong with cutting spending that much-we should be cutting even more-but the sequester is an ugly and dangerous way to do it.
By law, the sequester focuses on the narrow portion of the budget that funds the operating accounts for federal agencies and departments, including the Department of Defense. Exempt is most entitlement spending-the large portion of the budget that is driving the nation’s looming debt crisis. Should the sequester take effect, America’s military budget would be slashed nearly half a trillion dollars over the next 10 years. Border security, law enforcement, aviation safety and many other programs would all have diminished resources.
How did the country find itself in this mess?
During the summer of 2011, as Washington worked toward a plan to reduce the deficit to allow for an increase in the federal debt limit, President Obama and I very nearly came to a historic agreement. Unfortunately our deal fell apart at the last minute when the president demanded an extra $400 billion in new tax revenue-50% more than we had shaken hands on just days before.
It was a disappointing decision by the president, but with just days until a breach of the debt limit, a solution was still required-and fast. I immediately got together with Senate leaders Harry Reid and Mitch McConnell to forge a bipartisan congressional plan. It would be called the Budget Control Act.
The plan called for immediate caps on discretionary spending (to save $917 billion) and the creation of a special House-Senate “super committee” to find an additional $1.2 trillion in savings. The deal also included a simple but powerful mechanism to ensure that the committee met its deficit-reduction target: If it didn’t, the debt limit would not be increased again in a few months.
But President Obama was determined not to face another debt-limit increase before his re-election campaign. Having just blown up one deal, the president scuttled this bipartisan, bicameral agreement. His solution? A sequester.
With the debt limit set to be hit in a matter of hours, Republicans and Democrats in Congress reluctantly accepted the president’s demand for the sequester, and a revised version of the Budget Control Act was passed on a bipartisan basis.
Ultimately, the super committee failed to find an agreement, despite Republicans offering a balanced mix of spending cuts and new revenue through tax reform. As a result, the president’s sequester is now imminent.
Both parties today have a responsibility to find a bipartisan solution to the sequester. Turning it off and erasing its deficit reduction isn’t an option. What Congress should do is replace it with other spending cuts that put America on the path to a balanced budget in 10 years, without threatening national security.
Having first proposed and demanded the sequester, it would make sense that the president lead the effort to replace it. Unfortunately, he has put forth no detailed plan that can pass Congress, and the Senate-controlled by his Democratic allies-hasn’t even voted on a solution, let alone passed one. By contrast, House Republicans have twice passed plans to replace the sequester with common-sense cuts and reforms that protect national security.
The president has repeatedly called for even more tax revenue, but the American people don’t support trading spending cuts for higher taxes. They understand that the tax debate is now closed.
The president got his higher taxes-$600 billion from higher earners, with no spending cuts-at the end of 2012. He also got higher taxes via ObamaCare. Meanwhile, no one should be talking about raising taxes when the government is still paying people to play videogames, giving folks free cellphones, and buying $47,000 cigarette-smoking machines.
Washington must get serious about its spending problem. If it can’t reform America’s safety net and retirement-security programs, they will no longer be there for those who rely on them. Republicans’ willingness to do what is necessary to save these programs is well-known. But after four years, we haven’t seen the same type of courage from the president.
The president’s sequester is the wrong way to reduce the deficit, but it is here to stay until Washington Democrats get serious about cutting spending. The government simply cannot keep delaying the inevitable and spending money it doesn’t have.
So, as the president’s outrage about the sequester grows in coming days, Republicans have a simple response: Mr. President, we agree that your sequester is bad policy. What spending are you willing to cut to replace it?
– Mr. Boehner, a Republican congressman from Ohio, is speaker of the House.