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.
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