Your Guide To The Looming Spending Cuts: Where They Came From And What They Will Mean

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The United States is rapidly approaching March 1, the date on which the automatic spending cuts put in place by the summer 2011 debt ceiling deal will begin taking effect. There is little indication that Congress will avert the cuts as it did in January, as Republican leaders have thus far been unwilling to negotiate with President Obama and Senate Democrats.
Congress is currently on recess until next Monday, leaving just five legislative days until the automatic cuts — known as sequestration — will take effect. Here’s a breakdown of why the sequester was created and what it will mean for programs facing cuts and the nation’s overall economic recovery:
Why the sequester was created. The sequester was a result of the GOP’s wrangling over the debt ceiling in the summer of 2011, when Republican leaders — who had previously passed clean debt increases 19 times under President Bush — demanded spending cuts as the price for averting a costly default. On the brink of default, Congress passed the Budget Control Act, which enacted immediate spending cuts and created a supercommittee tasked with striking a “grand bargain” to reduce the deficit. Republicans walked away from the committee after refusing to consider tax increases on the wealthy, setting sequestration into motion. The sequester, which cuts from both domestic and defense spending, was designed to be painful enough that both sides would negotiate to avert it.

Your Guide To The Looming Spending Cuts: Where They Came From And What They Will Mean | ThinkProgress
 
The sequester was a result of the GOP’s wrangling over the debt ceiling in the summer of 2011,

actually , the sequester or spending cuts are result of $16 trillion in debt and $100 trillion in unfunded liabilities.

Is that over your head??
 
The United States is rapidly approaching March 1, the date on which the automatic spending cuts put in place by the summer 2011 debt ceiling deal will begin taking effect. There is little indication that Congress will avert the cuts as it did in January, as Republican leaders have thus far been unwilling to negotiate with President Obama and Senate Democrats.
Congress is currently on recess until next Monday, leaving just five legislative days until the automatic cuts — known as sequestration — will take effect. Here’s a breakdown of why the sequester was created and what it will mean for programs facing cuts and the nation’s overall economic recovery:
Why the sequester was created. The sequester was a result of the GOP’s wrangling over the debt ceiling in the summer of 2011, when Republican leaders — who had previously passed clean debt increases 19 times under President Bush — demanded spending cuts as the price for averting a costly default. On the brink of default, Congress passed the Budget Control Act, which enacted immediate spending cuts and created a supercommittee tasked with striking a “grand bargain” to reduce the deficit. Republicans walked away from the committee after refusing to consider tax increases on the wealthy, setting sequestration into motion. The sequester, which cuts from both domestic and defense spending, was designed to be painful enough that both sides would negotiate to avert it.

Your Guide To The Looming Spending Cuts: Where They Came From And What They Will Mean | ThinkProgress

I am pretty sure Obama supported these cuts fully, about... 4 months ago?

Some proof:



This theatre is ridiculous.
 
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the Sequestor is going to be a disaster if it happens.

The people most hurt (in dollars terms) will be those who most benefit from the largess and pork of the government, but of course ALL OF US will suffer as the economy suffers another deflationary shock to the system.
 
The United States is rapidly approaching March 1, the date on which the automatic spending cuts put in place by the summer 2011 debt ceiling deal will begin taking effect. There is little indication that Congress will avert the cuts as it did in January, as Republican leaders have thus far been unwilling to negotiate with President Obama and Senate Democrats.
Congress is currently on recess until next Monday, leaving just five legislative days until the automatic cuts — known as sequestration — will take effect. Here’s a breakdown of why the sequester was created and what it will mean for programs facing cuts and the nation’s overall economic recovery:
Why the sequester was created. The sequester was a result of the GOP’s wrangling over the debt ceiling in the summer of 2011, when Republican leaders — who had previously passed clean debt increases 19 times under President Bush — demanded spending cuts as the price for averting a costly default. On the brink of default, Congress passed the Budget Control Act, which enacted immediate spending cuts and created a supercommittee tasked with striking a “grand bargain” to reduce the deficit. Republicans walked away from the committee after refusing to consider tax increases on the wealthy, setting sequestration into motion. The sequester, which cuts from both domestic and defense spending, was designed to be painful enough that both sides would negotiate to avert it.

Your Guide To The Looming Spending Cuts: Where They Came From And What They Will Mean | ThinkProgress

lol, so thinkprogress thinks we are doomed if they go through, I am shocked that's how they think.... and notice the little dig in this UNBIASED article at how the sequester was the Republicans fault, I guess they kidnapped obama and forced him to agree with it
 
The United States is rapidly approaching March 1, the date on which the automatic spending cuts put in place by the summer 2011 debt ceiling deal will begin taking effect. There is little indication that Congress will avert the cuts as it did in January, as Republican leaders have thus far been unwilling to negotiate with President Obama and Senate Democrats.
Congress is currently on recess until next Monday, leaving just five legislative days until the automatic cuts — known as sequestration — will take effect. Here’s a breakdown of why the sequester was created and what it will mean for programs facing cuts and the nation’s overall economic recovery:
Why the sequester was created. The sequester was a result of the GOP’s wrangling over the debt ceiling in the summer of 2011, when Republican leaders — who had previously passed clean debt increases 19 times under President Bush — demanded spending cuts as the price for averting a costly default. On the brink of default, Congress passed the Budget Control Act, which enacted immediate spending cuts and created a supercommittee tasked with striking a “grand bargain” to reduce the deficit. Republicans walked away from the committee after refusing to consider tax increases on the wealthy, setting sequestration into motion. The sequester, which cuts from both domestic and defense spending, was designed to be painful enough that both sides would negotiate to avert it.

Your Guide To The Looming Spending Cuts: Where They Came From And What They Will Mean | ThinkProgress

lol, so thinkprogress thinks we are doomed if they go through, I am shocked that's how they think.... and notice the little dig in this UNBIASED article at how the sequester was the Republicans fault, I guess they kidnapped obama and forced him to agree with it

actually Obama proposed the sequestration process and of course signed it in to law. Certainly if it had been a Republican idea the cuts would have been more to welfare entitlements rather than defense with spends a record low nowadays.
 
the vote on sequestration was thus:
House For Against
Repubs 174 66
Dems 95 95
totals 169 161

Passed by 8 votes in the House.

Senate
Repubs 28 19
Dems 45 6
totals 73 25

So, the Budget Control Act was passed. With a greater than 2/3 majority in the senate, the bill could not be tossed out by the pres.

Looks pretty impartial. Though, in fact, no one wanted it to take effect, with a few possible exceptions. It was thought by both parties to be a lever to make something happen. For the repubs, more spending cuts. For the dems, more revenue. But for some, it is simply another way to blow up the government.
 
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the vote on sequestration was thus:
House For Against
Repubs 174 66
Dems 95 95
totals 169 161

Passed by 8 votes in the House.

Senate
Repubs 28 19
Dems 45 6
totals 73 25

So, the Budget Control Act was passed. With a greater than 2/3 majority in the senate, the bill could not be tossed out by the pres.

Looks pretty impartial. Though, in fact, no one wanted it to take effect, with a few possible exceptions. It was thought by both parties to be a lever to make something happen. For the repubs, more spending cuts. For the dems, more revenue. But for some, it is simply another way to blow up the government.

blow up???? A perfect example of the slow slow liberal mind. Even with the trivial sequestration cuts the libturds will be spending more this year than last year!!

Do Obama's 23 million unemployed get to spend more this year than last year?
 
the vote on sequestration was thus:
House For Against
Repubs 174 66
Dems 95 95
totals 169 161

Passed by 8 votes in the House.

Senate
Repubs 28 19
Dems 45 6
totals 73 25

So, the Budget Control Act was passed. With a greater than 2/3 majority in the senate, the bill could not be tossed out by the pres.

Looks pretty impartial. Though, in fact, no one wanted it to take effect, with a few possible exceptions. It was thought by both parties to be a lever to make something happen. For the repubs, more spending cuts. For the dems, more revenue. But for some, it is simply another way to blow up the government.

blow up???? A perfect example of the slow slow liberal mind. Even with the trivial sequestration cuts the libturds will be spending more this year than last year!!

Do Obama's 23 million unemployed get to spend more this year than last year?
You do not think that the economy will blow up because you are:
1. A conservative tool who always simply posts con dogma that you are paid to post.
2. A libertarian, which in and of itself proves you to be a congenital idiot, or simply have your nose up the ass of the Koch brothers.
3. An economic idiot.
4. A tea party member (oops, 3 and 4 are redundant).

Please, me poor idiot con tool, find me an independent economist who believes that sequester is anything but an economic disaster, as it plays out.
So, you say, the liberals will be spending more this year than last. Are you simply lying, or just stupid. Oh, probably both. Take a look at the CBO estimates for the deficit over the next 10 years (which I provided for you yesterday) and you will see that the deficit is going down this year by over $300B and continuing to do so over the obama presidency. So, me boy, who should we believe. First choice, ed, who is an economic idiot and a proven liar. Or the CBO who has a team of economists and is praised by both repubs and dems as being impartial. Huh. Tough choice, but my money is on the CBO.

And, of course, ed, you are placing the blame for the unemployed, which do not amount to 23 Million, on Obama. Which is disingenuous. Oops, don't look it up. That simply means you are lying. Again. Remember at the beginning of his presidency, when unemployment was going up like a rocket. Something like 700,000 per month and more. You know, dipshit, as a result of the great republican recession of 2008. But hell, ed. I forget. You just post dogma. You could care less about truth. You just do what you are paid to do.
 
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the Sequestor is going to be a disaster if it happens.

The people most hurt (in dollars terms) will be those who most benefit from the largess and pork of the government, but of course ALL OF US will suffer as the economy suffers another deflationary shock to the system.

Obama's Sequester is going to be a disaster if it happens....

There, fixed
 

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