Daniel J. Mitchell

How Disappointing, but how predictable.

Politicians approved legislation in 2011 that was supposed to impose a modest bit of spending restraint over the next 10 years.

It wasn’t much. The enforcement mechanism, known as sequestration, merely was supposed to guarantee that spending climbed by $2.3 trillion rather than $2.4 trillion over the 10-year period.

But something is better than nothing, and the sequester that took place this year was a bitter defeat for President Obama and other advocates of bigger government.

And it also provided comic relief as the White House engaged in hysterical rhetoric in an attempt to scare people about sequestration.

But now there’s a deal to weaken the sequester and allow more government spending over the next two years. Hatched by Paul Ryan, the Republican Chairman of the House Budget Committee, and Patty Murray, the Democrat Chairwoman of the Senate Budget Committee, the most important takeaway is that the agreement will increase spending caps by $63 billion over the next two years.

This chart shows what will happen.

Murray-Ryan Budget Deal


Daniel J. Mitchell

Daniel J. Mitchell is a top expert on tax reform and supply-side tax policy at the Cato Institute.