Sequestration

USMA2020 said:
So, I am going to be honest, I have read the news, watched the news, read articles, listened to the radio, and read this forum, and I still do not get what is going on. I have even looked up the definition of sequestration, and just to be honest I still don't get it. Is there anyone who could help me out? It is really frustrating me, because I love the political stuff, and this all ties in with that (and a lot of other things), but I just don't understand. If anyone could help me I would really appreciate it.
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Basically, 18 months ago president obama signed a bill into law which said, "if congress (legislative) and president (executive) cannot agree on a program to reduce the federal deficit by 1 trillion over ten years ( i think), then an automatic $85 billion across the board spending cut would go into effect".

The goal was to make it to distasteful for congress to NOT reach an agreement, that this would provide incentive for them to do so. 48 hours to go, it has not quite worked. It means all Dept. of the government have to cut 10%.
 
AMF said:
Basically, 18 months ago president obama signed a bill into law which said, "if congress (legislative) and president (executive) cannot agree on a program to reduce the federal deficit by 1 trillion over ten years ( i think), then an automatic $85 billion across the board spending cut would go into effect".

The goal was to make it to distasteful for congress to NOT reach an agreement, that this would provide incentive for them to do so. 48 hours to go, it has not quite worked. It means all Dept. of the government have to cut 10%.
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Kicks in at 11:59 p.m. March 1.
 
Thanks so much to those who explained things. I really apprecite it. I doubt Congress knows too, at least most of the Representives.
 
USMA2020 said:
Thanks so much to those who explained things. I really apprecite it. I doubt Congress knows too, at least most of the Representives.
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And yet, the House has actually proposed and passed a budget. It would appear the Dem. led Senate isn't sure how to pass a budget.....
 
It is too bad that the White House and the media and a bunch of others keep talking about this as a "cut" in the federal budget. It is NOT. If you study the thing federal departmentss will, as a general rukle, have at least as much as they had this last year...it is not a cut, it is a reduction in the budget increase! A little actual fiscal management by these folks would have already assured that this would not be happening. The "fear tactics" coming out of the White House and other federal depts and agencies is a big part of the probblem here. Many have definitely overreacted and have already announced layoff, furloughs, cut backs, etc. Silly.

Want a good read on what this really is...check out tghis website and look at the work done on the "sequestration" issue.

www.ipi.org
 
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