Here Comes The SequesterPosted: 7 February 2013
Soon we will be embroiled in the haunting demon, sequestration…..the media will be full of this story of that and the toads in Congress will sprinter to the microphones and cameras to get in their daily talking points……and in the end it will be just another colossal waste of time…….with that said….do you know what the sequester is all about? Not what O’Reilley or Rivera or that Asian bat shit cray chick thinks it means…….what is it?
Matt Ylesias tries to simplify it for those that have a tough time trying to grasp just what the toads are talking about……from his Salon.com post……..
- What sequester is: A set of broad, across-the-board spending cuts. While Social Security, Medicaid, and a few select anti-poverty programs are spared, almost everything else is getting a hefty chunk taken out—16.3% for military programs, and 9.2% for discretionary ones.
- Why it’s happening: The sequester was an intentionally awful set of cuts designed to force Congress to create an alternative, sensible debt reduction plan. It didn’t.
- Why the cuts are dumb: “A time of high unemployment and ultra-low interest rates is a strange time to be cutting spending,” Yglesias observes. The cuts also expressly forbid trying to focus the cuts on unimportant or ineffective programs. “Things are just cut willy-nilly.”
- What harm they’ll do: A lot. One Goldman Sachs analyst predicts a full percentage point hit to GDP, and the Bipartisan Policy Center calculates that they could result in 1 million fewer jobs next year.
- But at least it fixes the deficit, right?: “Not really,” Yglesias argues. “The deficit right now isn’t a problem.” The worry is that an aging population and rising health care costs will eventually be disastrous, and the sequester doesn’t touch entitlements.
- Why Congress won’t just call it off: Republicans are demanding that defense cuts be replaced with more social cuts. Democrats will only call off the cuts if they get tax increases. Neither platform will fly, at all, with the other party. “Congress tried to bluff itself and now it’s prepared to call its own bluff,” Yglesias says.
Now there is just about everything that one would need to know to follow the acts that will come with the issue……it is all so much crap on a cracker……..
So sit back and enjoy the drama, the comedy and the absurdities to follow…….