The new job numbers are out and, at first glance, there is nothing surprising here. Job growth continued to inch upward in December, with 155,000 new jobs added. Of course, with several million young people joining the labor force every year, numbers like these don't actually amount to growth. We are just running in place.
But here's a statistic that jumped out at me: 89,000 public sector workers lost their jobs in October, November, and December—with most of those losses, 66,000, occurring in October.
Now that the future revenue path is pretty clear for the next decade, I took another look at President Obama's 2013 budget, which projects spending and revenue through 2022 on the assumption—a correct one, it turns out—that taxes will only rise on the affluent.
The Center for Responsive Politics compiles data on the 50 top interest groups giving money to Congress. Near the top of the 2012 list are the usual suspects—finance, insurance, real estate, and Big Oil. Near the bottom are casinos and the building materials industry (along with "Women's Issues.")
But guess who's not on the list? Gun rights groups. Not only did such groups not make the list in 2012; they have never made the list. Even if you only look at the 50 interest groups supporting Republicans, the gun rights crowd doesn't make the cut.
Washington is in a fiscal panic, yet surprisingly few people are asking an obvious question: Why in the world is the Obama administration proposing to spend $8 trillion on security over the next decade? Included in that giant sum is not just Pentagon spending, but also outlays for intelligence, homeland security, foreign aid, and diplomacy abroad.
If the administration gets its way, security spending would account for a fifth of all government outlays over the next decade. Such spending would be roughly twice as great as all non-mandatory spending through 2022—a category that includes everything from NASA to Pell Grants and national parks.