02262017Sun
Last updateThu, 22 Dec 2016 2pm

Leadership Void: Obama Misses Deadline For Reporting Proposed Defense Cuts To Congress

(Breitbart) - President Barack Obama on Friday missed the legal deadline for reporting to Congress about what spending cuts, including those to defense, the White House would propose as part of the sequestration that the Budget Control Act mandates.

White House spokesman Jay Carney said the report, which will have to detail $109 billion in proposed budget cuts, will be submitted next week.  

In August, Obama signed the Sequestration Transparency Act, which required him to submit the report to Congress by Friday. 

And even worse, as Bob Woodward reveals in his book, The Price of Politics, the idea for sequestration had actually “originated in the White House – and not in Congress”

According to the book, White House Chief of Staff Jack Lew, who was then-OMB director, pitched the idea to Harry Reid because they felt the prospect of “massive defense cuts would compel Republicans to agree to the so-called ‘grand bargain.’” ... continues...

" If the American People ever allow private banks to control the issue of currency, first by inflation and then by deflation, the banks and corporations that will grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered... "

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