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Sequestration
Budget sequestration: U.S. legal procedure in which automatic spending cuts are triggered, notably implemented in the Budget Control Act of 2011. The cuts, plus nearly $1 trillion more over the coming decade, were concocted two years ago. Administration and congressional bargainers purposely made them so painful that everyone would be forced to reach a grand deficit-cutting compromise to avoid them. Hasn't happened.
Just for the record: The Administration (Obama) and Congressional bargainers (including Harry Reid) agreed to and voted for these cuts.
The national debit is $16,549,891,338. There are 113,061,786 taxpayers and 22,371,557 unemployed. The debit exceeds the GDP for the USA. The US government has grown by a estimated 17%. The United States credit rating went from AAA to aa-.
These cuts begin on 1 March 2013 by Presidential (Obama) and Congressional agreement. Many budgets will be impacted. There are no cuts that will endanger health or welfare of citizens this was done by design.
So we have facts, definations, and estimates regarding these cuts. The debate centers on are the cuts only the first step required to reign in government spending and balance the budget OR should we continue with entitlements, subsidizing, and a bigger government which Obama has said will cost another 4 trillion in the next four years.
Please support with benefits and consequences.
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Linda Taylor 50+
I will hurt like hell but it is necessary. Heck, the president doesn't care, he is playing golf with Tiger Woods. That right there sets the tone for the rest of the political leadership. Don't worry, be happy.
I have had to cut my budget or have it cut for me. I get how it works. There is only so much money because the presses can't keep running at this speed. We are too close now to sequestration to prevent it so the best we can do will be reactionary. I think sequestration will continue for a month or two which will save us a ton of money. Congress will get busy because so many people will be angry, return us to ridiculous spending but we will get a savings over a few months. At this point, this is the only option where each side saves face and blames each other. Temporary downsizing.
Robert Winner 50+
Yeah I thought this was a time for serious people to be working on the many problems we have. Since Obama went golfing I guess that sends the message as you stated. Wonder why the media always says this is a battle between Obama and Bayner. Guess that Obama does not trust anyone else ... wow what a message. Also they never mention that this was a bi-partisan agreement but the media says it was a repub resolution.
We could do away with the 32 new czars and homeland security as they do not enforce the boarder laws and have just entered the top three in expendatures ... with zero results ... what a waste.
Oh well. I preached to much. Thanks for the reply. Bob.
Linda Taylor 50+
It's good to be the king. ~Mel Brooks