Feb. 26, 2013
Berlusconi wins Senate with 30 percent of the vote after being deposed by Brussels and Berlin, and anti-Euro party Five Star Movement comes out of nowhere, winning 24 percent.
Insolvency, not sequester, is the real budget threat.
The Congressional Budget Office estimates that the spending will be cut by $85 billion over a period of years, or about $54 billion overall in 2013. Of that, actual discretionary spending in 2013 will only be cut by less than 4 percent or $44 billion.
"There's one thing uglier than a Democratic tax-and-spend spree. A Republican one."