The Sequester

[Redfish]

Does anyone buy into Obama's BS on this? He is claiming that the entire economy will collapse if 80 billion is cut from the federal spending.

The congress just spent almost that much on Sandy relief.

This is just more scare tactic rhetoric by the marxist kenyan.

If the sequester kicks in, no one will feel it--no one. If anyone thinks there is not 10% fat in the DOD budget then I have some underwater investment property to sell you in the swamp.

 

[waltky]

President Obama said Republicans would rather impose cuts than close a "single tax loophole"...

Obama warns budget cuts will cause job losses
19 February 2013 - US President Barack Obama has warned Congress "people will lose their jobs" if deep budget cuts are allowed to take effect next week.

Mr Obama said $85bn (£55bn) in cuts was a harmful, "meat-cleaver approach" to deficit reduction, as he stood with emergency workers at the White House. He also offered targeted spending cuts, supporting a proposal similar to that outlined by Senate Democrats last week. Mr Obama has just returned from a three-day golf trip in Florida. Fresh from his weekend round of golf with Tiger Woods, the president said: "These cuts are not smart, they are not fair, they will hurt the economy. This is not an abstraction. People will lose their jobs."

'Blocking tax reform'

The president added that the effect of the so-called sequester was already being felt in some government departments, noting the Navy had delayed the deployment of a carrier to the Gulf. "Changes like this, not well thought through, not phased in properly, changes like this affect our ability to respond to threats in unstable parts of the world," Mr Obama said. He also said that while he was open to cutting back on unsuccessful or unnecessary government programmes, he accused Republicans of "ideological rigidity" for opposing tax increases. He proposed closing some tax loopholes to increase revenue, and backed a budget plan put together by Senate Democrats last week.

Mr Obama said the deep, across-the-board spending cuts had originally been designed to be so unattractive that they would spur politicians to work together. Congressional Republicans have given a frosty reception to the Senate Democrats' proposal. They point out that Mr Obama already won a revenue increase in the new year, when Congress allowed taxes to rise on families making more than $450,000 annually.

In response to the president's remarks, House Speaker John Boehner said: "The American people understand that the revenue debate is now closed. "Tax reform is a once-in-a generation opportunity to boost job creation in America. It should not be squandered to enable more Washington spending. Spending is the problem, spending must be the focus," a statement said. Congress is in recess this week, leaving even less time to negotiate a budget solution ahead of the 1 March deadline.

Senate plan

See also:

OECD economies in 0.2% quarterly decline
19 February 2013 - The eurozone crisis was the biggest factor in the OECD contraction

The economies of the Organisation for Economic Co-operation and Development (OECD) contracted by 0.2% in the last three months of 2012. It was the first such decline for this group of mainly rich countries since the beginning of 2009. The eurozone was the biggest factor, with a 0.6% contraction. Japan and the UK shrank too and the US saw no growth.

The OECD's figures highlight the continuing weakness that has afflicted the developed world. At no stage since the financial crisis have developed economies grown very strongly. It has never been a convincing recovery. But the figures for the final quarter of last year actually show a decline for the first time in nearly four years for the OECD as a whole - which is nearly all the rich countries and a few of the more developed emerging economies.

The data refer to the final three months of last year. There have been some more positive developments since then. In Europe, some business surveys have suggested improving confidence. Individual country figures have already been published - and are, it should be said, subject to revision. What the OECD's compilation shows is the persistence and extent of the post-crisis malaise.

http://www.bbc.co.uk/news/business-21506563

 

[Staidhup]

Lets see, the government continues to spend, the purchasing value of the dollar continues to decrease, inflationary pressure is knocking at the door, the percentage of Debt to GDP continues to increase, and the we don't have a spending problem? Good luck with that. What was it that the Messiah said about debt, spending, taxes, and budgets when he was running for office? Words, just words.

 

[Freemason9]

Does anyone buy into Obama's BS on this? He is claiming that the entire economy will collapse if 80 billion is cut from the federal spending.

The congress just spent almost that much on Sandy relief.

This is just more scare tactic rhetoric by the marxist kenyan.

If the sequester kicks in, no one will feel it--no one. If anyone thinks there is not 10% fat in the DOD budget then I have some underwater investment property to sell you in the swamp.

Perhaps you don't understand that the U.S. economy, since Ronald Reagan was elected, has been largely supported by federal deficit spending. I have no doubt at all that a severe recession will revisit us if we have the sequester.

Unfortunately, I think that's exactly what it will take to get these stupid ******* Republicans in Congress to think beyond "deficit reduction."

 

[Politico]

Sequester away.

 

[RoadVirus]

Unfortunately, I think that's exactly what it will take to get these stupid ******* Republicans in Congress to think beyond "deficit reduction."

I'm still waiting on stupid ******* Democrats in Congress to think beyond "More taxes".

 

[OKTexas]

It was his idea and now he wants to blame someone else. Typical Maobama, marketing an empty box, himslef.

 

[Redfish]

Does anyone buy into Obama's BS on this? He is claiming that the entire economy will collapse if 80 billion is cut from the federal spending.

The congress just spent almost that much on Sandy relief.

This is just more scare tactic rhetoric by the marxist kenyan.

If the sequester kicks in, no one will feel it--no one. If anyone thinks there is not 10% fat in the DOD budget then I have some underwater investment property to sell you in the swamp.

Perhaps you don't understand that the U.S. economy, since Ronald Reagan was elected, has been largely supported by federal deficit spending. I have no doubt at all that a severe recession will revisit us if we have the sequester.

Unfortunately, I think that's exactly what it will take to get these stupid ******* Republicans in Congress to think beyond "deficit reduction."

LOL, the sequester is 80 billion, we just spent 60 billion on Sandy recovery. Without Sandy would the sequester only be 20 billion?

This is nothing but political bullshit, obama has never had any intention of doing whats best for the economy, he wants to see it crumble between now and nov 2014 so the dem/libs can take complete control of DC and declare him president for life.

We are living in very dangerous times and 70% of the country does not give a shit.

 

[Mustang]

Does anyone buy into Obama's BS on this? He is claiming that the entire economy will collapse if 80 billion is cut from the federal spending.

The congress just spent almost that much on Sandy relief.

This is just more scare tactic rhetoric by the marxist kenyan.

If the sequester kicks in, no one will feel it--no one. If anyone thinks there is not 10% fat in the DOD budget then I have some underwater investment property to sell you in the swamp.

Certain sectors of the economy and certain areas of the country will be hit very hard.

I think there is plenty in the defense budget that can be cut seeing as how it's at least 50% higher now than it was before 9-11. But the sequester wasn't planned out in a methodical way since it was never seriously believed that it would happen. It was meant to be something that would be so unacceptable as to force the Democrats and the Republicans to reach a consensus compromise. From what I can see, it's not working out that way.

 

[Redfish]

Does anyone buy into Obama's BS on this? He is claiming that the entire economy will collapse if 80 billion is cut from the federal spending.

The congress just spent almost that much on Sandy relief.

This is just more scare tactic rhetoric by the marxist kenyan.

If the sequester kicks in, no one will feel it--no one. If anyone thinks there is not 10% fat in the DOD budget then I have some underwater investment property to sell you in the swamp.

Certain sectors of the economy and certain areas of the country will be hit very hard.

I think there is plenty in the defense budget that can be cut seeing as how it's at least 50% higher now than it was before 9-11. But the sequester wasn't planned out in a methodical way since it was never seriously believed that it would happen. It was meant to be something that would be so unacceptable as to force the Democrats and the Republicans to reach a consensus compromise. From what I can see, it's not working out that way.

Obama is lying to you, if the sequester happens no one will notice any change, NO ONE.

its a drop in the bucket and it only reduces the amount of growth, it is not a cut to the baseline budget.--------OOPs forgot, we have not had a budget in over 4 years---thanks obama and reid.

 

[Mustang]

Does anyone buy into Obama's BS on this? He is claiming that the entire economy will collapse if 80 billion is cut from the federal spending.

The congress just spent almost that much on Sandy relief.

This is just more scare tactic rhetoric by the marxist kenyan.

If the sequester kicks in, no one will feel it--no one. If anyone thinks there is not 10% fat in the DOD budget then I have some underwater investment property to sell you in the swamp.

Certain sectors of the economy and certain areas of the country will be hit very hard.

I think there is plenty in the defense budget that can be cut seeing as how it's at least 50% higher now than it was before 9-11. But the sequester wasn't planned out in a methodical way since it was never seriously believed that it would happen. It was meant to be something that would be so unacceptable as to force the Democrats and the Republicans to reach a consensus compromise. From what I can see, it's not working out that way.

Obama is lying to you, if the sequester happens no one will notice any change, NO ONE.

its a drop in the bucket and it only reduces the amount of growth, it is not a cut to the baseline budget.--------OOPs forgot, we have not had a budget in over 4 years---thanks obama and reid.

That's a very bold statement. IMHO, it's too bold to be true considering the large sums of money we're talking about. However, I don't doubt for a minute that the gov't won't try some creative accounting gimmickry in order to ameliorate the impact.

 

[tyroneweaver]

I hear the sequester is only 40 billion and majority of that is military.

 

[BreezeWood]

the Republicans are running with their tax breaks - just like they did during their Iraqi war that led to the Republican 07-09 Great Recession.

not History but Stupidity is what repeats itself.

 

[Sallow]

Certain sectors of the economy and certain areas of the country will be hit very hard.

I think there is plenty in the defense budget that can be cut seeing as how it's at least 50% higher now than it was before 9-11. But the sequester wasn't planned out in a methodical way since it was never seriously believed that it would happen. It was meant to be something that would be so unacceptable as to force the Democrats and the Republicans to reach a consensus compromise. From what I can see, it's not working out that way.

Obama is lying to you, if the sequester happens no one will notice any change, NO ONE.

its a drop in the bucket and it only reduces the amount of growth, it is not a cut to the baseline budget.--------OOPs forgot, we have not had a budget in over 4 years---thanks obama and reid.

That's a very bold statement. IMHO, it's too bold to be true considering the large sums of money we're talking about. However, I don't doubt for a minute that the gov't won't try some creative accounting gimmickry in order to ameliorate the impact.

Of course it is.

It will be noticed. There will be a moderate contraction for several months and a spike in Unemployment. It's going to hit hard in places like Virginia which depend on the defense industry.

Republicans are gambling that people will be angry with Obama and have already started flipping the script..calling it "Obama's sequester". It's as funny to watch as Romney flip flopping in debates..morphing from a far right nutcase into a moderate.

They've learned nothing from 2012..and this will cost them big in 2014.

 

[Staidhup]

Actually the sequester was and remains the Messiahs proposal. As for gutting defense that too was the main portion of his deficit reduction plan, as well, the threat to the defense industry not to lay anyone off prior to the election. So after defense is gutted you as well will have to face the reality that further cuts will be forthcoming and that congress must face the fact that the era of simply printing money and living off credit has come to an end.

 

[OKTexas]

Does anyone buy into Obama's BS on this? He is claiming that the entire economy will collapse if 80 billion is cut from the federal spending.

The congress just spent almost that much on Sandy relief.

This is just more scare tactic rhetoric by the marxist kenyan.

If the sequester kicks in, no one will feel it--no one. If anyone thinks there is not 10% fat in the DOD budget then I have some underwater investment property to sell you in the swamp.

Certain sectors of the economy and certain areas of the country will be hit very hard.

I think there is plenty in the defense budget that can be cut seeing as how it's at least 50% higher now than it was before 9-11. But the sequester wasn't planned out in a methodical way since it was never seriously believed that it would happen. It was meant to be something that would be so unacceptable as to force the Democrats and the Republicans to reach a consensus compromise. From what I can see, it's not working out that way.

Obama is lying to you, if the sequester happens no one will notice any change, NO ONE.

its a drop in the bucket and it only reduces the amount of growth, it is not a cut to the baseline budget.--------OOPs forgot, we have not had a budget in over 4 years---thanks obama and reid.

You can bet your ass things will be done to make people notice, he will insure that. It won't be necessary but when has he allowed that to stand in is way.

 

[OKTexas]

Certain sectors of the economy and certain areas of the country will be hit very hard.

I think there is plenty in the defense budget that can be cut seeing as how it's at least 50% higher now than it was before 9-11. But the sequester wasn't planned out in a methodical way since it was never seriously believed that it would happen. It was meant to be something that would be so unacceptable as to force the Democrats and the Republicans to reach a consensus compromise. From what I can see, it's not working out that way.

Obama is lying to you, if the sequester happens no one will notice any change, NO ONE.

its a drop in the bucket and it only reduces the amount of growth, it is not a cut to the baseline budget.--------OOPs forgot, we have not had a budget in over 4 years---thanks obama and reid.

That's a very bold statement. IMHO, it's too bold to be true considering the large sums of money we're talking about. However, I don't doubt for a minute that the gov't won't try some creative accounting gimmickry in order to ameliorate the impact.

You do realize the sequester only reduces increases in spending and there are no real cuts, right? Maobama the drama queer, I mean queen, has no intention on cutting even the baseline growth in spending, but he does want to raise taxes so he can spend more.

 

[bripat9643]

Does anyone buy into Obama's BS on this? He is claiming that the entire economy will collapse if 80 billion is cut from the federal spending.

The congress just spent almost that much on Sandy relief.

This is just more scare tactic rhetoric by the marxist kenyan.

If the sequester kicks in, no one will feel it--no one. If anyone thinks there is not 10% fat in the DOD budget then I have some underwater investment property to sell you in the swamp.

Not for a second. If the world didn't come to an end before we spent this much money, it won't come to an end if we go back to that level of spending.

The one thing that has become perfectly crystal clear about Obama and the Dims is that they refuse to cut spending on social programs anytime for any reason. They don't care if the country collapses, they will continue to push for more spending.

Dims should all be taken out and shot. I can't think of a single redeeming quality any of them have.

 

[TheSeventhTiger]

every dufass who voted for bambi thinks the sequesta is the host of American idol.

 

[bripat9643]

Does anyone buy into Obama's BS on this? He is claiming that the entire economy will collapse if 80 billion is cut from the federal spending.

The congress just spent almost that much on Sandy relief.

This is just more scare tactic rhetoric by the marxist kenyan.

If the sequester kicks in, no one will feel it--no one. If anyone thinks there is not 10% fat in the DOD budget then I have some underwater investment property to sell you in the swamp.

Perhaps you don't understand that the U.S. economy, since Ronald Reagan was elected, has been largely supported by federal deficit spending. I have no doubt at all that a severe recession will revisit us if we have the sequester.

That's like saying you filled the bathtub by scooping water our of one end and pouring it into the other. Every single dime the federal government spends comes out of the economy, one way or another. The claim that federal deficit spending "supports the economy is in the top 10 dumbest ever posted to this forum.

Unfortunately, I think that's exactly what it will take to get these stupid ******* Republicans in Congress to think beyond "deficit reduction."

What will it take to get the stupid ******* Democrats to think beyond spend, spend, spend?