The Wall Street Journal Thinks Losing 1 Million Jobs Is
“Unscary”  Bill Scher  The Wall Street Journal editorial board
today is counseling Republicans that the looming across-the-
board spending cuts known as the “sequester” are “unscary” and
preferable to any compromise that would raise more revenue.  Why
should taking a meat ax to the federal government be treated so
cavalierly? According to the WSJ, spending is so much higher
than it was five years ago, that cutting it back won’t hurt
anybody.    This is a clever bit of blurring. What these numbers
actually say is public sector spending dramatically increased in
“Mr. Obama’s first two years” because the private sector
collapsed (something the paper of record from Wall Street might
know something about). Because of this, we did not have a global
depression.  After those two years the public sector pulled
back, but rested at level slightly higher than in the Bush era —
an era, by the way, which the Wall Street Journal itself
characterized as having the “worst