Druckenmiller on the Sequester

Bloomberg Television has an interview with hedge fund manager Stanley Druckenmiller that gets into some policy-related matters, including the puzzling question of why President Obama and his allies were advocating a large tax increase while warning of the supposedly devastating effects that much smaller spending cuts will have on the economy: "it's just a little ridiculous to say a $600 billion tax increase over ten years and $150 billion increase in the payroll tax is going to have no effect on the economy. But an $85 billion cut in discretionary spending is going to tank the economy? If the economy were to soften, I can tell you it won't be because it will not be because of this $85 billion..."