2012 Biotech Charity Contest Message Board

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Biotech / Medical : 2012 Biotech Charity Contest

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To: Robohogs who wrote (267)	6/25/2012 12:43:51 PM
From: Chris08	Read Replies (1) of 513

Actually federal spending in 2012 is up 4.3% from 2011, but that needs to be adjusted for inflation. From 2012 on the unsuccessful deficit reduction negotiations resulted in automatic sequesters over a period of time. Deficit reduction and the automatic cuts scheduled to take effect in January 2013 were viewed as likely to figure in the 2012 presidential election. President Obama stated that he would veto any attempt by Congress to cancel the $1.2 trillion sequester. (from Wikipedia). Needless? to say, as GDP increases one would expect spending to increase as well. The fact that at present unemployment is as high as it is is clear evidence of a spending shortfall in the economy. It isn't as if inflation were any worry. I again would argue that attacks on government "spending" are covert attacks on welfare and originate in a wish to deprive the poor and working class of the protections they have had for many years. Related to this are the so far unsuccessful GOP attempts to change or do away with Social Security and Medicare that are well known.

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