Captain Rick: Republicans are calling it the “Obamaquester” … $1.2 trillion in spending cuts over 10 years. $85 billion in 2013. Defense will be cut 13%. Everything else 9%. Officially called the “sequester”, its part of the “Fiscal Cliff” that was postponed on January 1, 2013.

The forced budget cuts were created during the 2011 debt ceiling debacle, passed by Congress and signed by the Whitehouse. It was a worst-case scenario, so bad that it would force lawmakers to make a deal. But, no deal was ever made and thus its become a poison pill that Americans will most likely have to swallow on March 1, 2013. The sequester was put in place 18 months ago to be a hammer, not a policy. On March 1, that hammer slams down.

image

Sequester Spending Cuts taking effect after March 1 (partial list)

Head Start programs will be scaled back

Fewer meat inspections

Homeland Security cuts will mean longer lines at airports and scaled back cyber security

Furloughs and layoffs would effect civilian workers in the defense industry

IRS cuts will mean fewer tax return reviews and longer waits for tax refunds

Emergency housing for the homeless will be scaled back

Extended benefits for unemployed will be scaled back

National Parks may close campgrounds or reduce open periods

Little hope of compromise by March 1

Washington continues to play the “blame game.” Democrats are blaming Republicans for proposing devastating spending cuts.  Republicans blame the Democrats for getting used to being bailed out for their own lack of fiscal responsibility.

Optimism for a last-minute deal averting massive spending cuts is scarce. The buzz in Washington is that both sides actually want to let the sequester happen. Washington seems to be mainly squabbling over who will be to blame for the “meat cleaver” budget slashing set to take effect on March 1.

The latest national poles show America is leaning slightly towards letting the sequester happen…that it is time America stops “kicking its debt can down the road”.

The sequester is only a tiny contribution to reduce deficit spending. Those reading my earlier reports know that America must come to grips with its gigantic thirst for wild deficit spending beyond its means in order to save America from future financial ruin.

More info from previous reports:

Fiscal Cliff: https://atridim.wordpress.com/category/fiscal-cliff-course-101/

U.S. Debt Crisis: https://atridim.wordpress.com/category/u-s-debt-crisis/

Advertisements
Comments
  1. BRET says:

    CUT ALL FORIGN AID TO COUNTRIES THAT DON’T AGREE WITH US AND OUR DEMOCRACY, PLACE TARRIFFS ON ALL…I SAID ALLLLL INCOMING PRODUCTS SO IT IS CHEAPER TO MANUFACTURE HERE, TRADE FOOD FOR OIL, START USING OUR OWN OIL UNTIL THE COUNTRIES THAT WE BUY FROM FIGURE OUT THEY REALLY DO NEED US, PUT WELLFARE RECIPIENTS ON WORK PROGRAMS REBUILDING OUR INFRASTRUCTURE AND IMPLEMENT DRUG TESTING FOR WELLFARE CHECKS, PUT ALL GOVERNMENT WORKERS ON A 401K PROGRAM AND GET RID OF THIER PENSION LIKE MOST COMPANIES HAVE DONE, PLACE A FLAT INCOME TAX ON EVERY AMERICAN, PUT OUR FACTORIES BACK IN THE TOWNS THAT NEED AND WANT THEM SO FARMERS AND CONSTRUCTION WORKERS CAN AFFORD EQUIPMENT THAT IS MADE IN THIER BACKYARDS WITH PRIDE, AND PUT SPELL CHECK ON CAPTAIN RICK’S BLOG FOR DUMMIES LIKE ME THAT LIKE TO VENT:)

    • atridim says:

      Bret,
      Very well said. I agree with all whole heartedly. America needs thinkers like you in Washington to replace the incompetents who can’t seem to figure any of this common sense stuff out!
      I always enjoy reading your comments. Sincere thanks for sharing your thoughts.
      Captain Rick

Your comment is appreciated:

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s