Consider this:
- A recent Bloomberg View study found that the 10 largest U.S. banks receive an annual taxpayer subsidy of around $83 billion, or about 3 cents of every tax dollar.
- The first year of sequestration cuts will cost around $85 billion or . . . wait for it . . . about 3 cents of every tax dollar.
I think we should avoid sequestration by ending our annual subsidy to Too Big to Fail (and now Too Big to Prosecute) banks.
But that’s just my three cents.
Make sense?