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2/25/2013 8:27:26 PM
13
Do you think the "Sequester Spending Cuts" will happen?
Large spending cuts are set to go into effect Friday due to the Super Committee's failure in 2011, and the delay from January 1st to March 1st in the Fiscal Cliff Aversion.
But, do you think that the cuts will happen? Or will Congress put another temporary resolution/delay at the last minute in order to soften whatever blow will happen? Analysts are saying that the Austerity measure could push the US back into a recession.
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4 RepliesThe spending cuts won't affect military payment, social security or Medicare. This means that all nonessential federal programs will be affected, along with some infrastructure. In my state, I know that educational is taking a huge blow, but -- because of our conservative governor -- the money lost is being taken away from programs that only help a small portion of the population, namely the poor. I'm actually pretty excited for this. A 5% reduction in spending, across the board, is going to be nice. This next fiscal cliff will (hopefully) force an even deeper set of cuts, mostly in social spending. Whether people realize it or not, this is going to happen in the future if we don't face it now. And I assure you that, when we're a hundred trillion dollars deeper, it's going to be much more difficult. God bless the Republicans for making a stand.
