Courtesy of Bruce Krasting.
The Office of Management and Budget (OMB) has come out with a detailed breakdown of the spending cuts associated with the sequester (LINK). This is one hell of a document, it runs 83 pages.
Those who believe that government is too big should spend some time looking this over. They will get sick. For those who think that government is too small; well, they should also spend some time with the report. No reasonable person could look at this and conclude that all is well in D.C.
I reviewed the report to determine what the consequence of sequestration would be on interest payments on BABs bonds.There was so much more to consider than BABs. First some details on the BABs, then some thoughts about the budget in general.
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