Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Zorro

(15,722 posts)
Sat Sep 15, 2012, 08:38 PM Sep 2012

Everything you need to know about budget 'sequestration' – except the consequences

The White House has reported on the $1.2 trillion in automatic budget cuts that are part of last year's debt ceiling deal. But how the cuts will impact individual programs remains unclear.

You can now go line by line in the federal budget and see just how deep the spending cuts slated for January will go thanks to a White House report released Friday on the impact of what’s known as “sequestration.”

What still isn’t there, however, is how the Selective Service (down 9.4 percent, or $2 million), managers for federal emergency food and shelter funding (down 8.2 percent, or $10 million) or operations and maintenance at the Marine Corps (down 9.4 percent, or $854 million) will actually cope with the reductions. How many fewer tents will the Federal Emergency Management Agency buy? How will the Marine Corps maintain its combat readiness? That’s all still unclear.

“There will be some unintended consequences sooner or later,” says Pete Davis of Davis Capital Investment Ideas. “They’ve taken 8.2 percent out of embassy security which doesn’t seem like such a great idea right now…. What are you going to do if you’re building a ship and you’re going to take 9.4 percent out of it? It’s not like you can just buy 90 percent of a ship.”

More at: http://news.yahoo.com/everything-know-budget-sequestration-except-consequences-131808974.html

2 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Everything you need to know about budget 'sequestration' – except the consequences (Original Post) Zorro Sep 2012 OP
You want fewer consequences? Increase the tax rate for top income earners alcibiades_mystery Sep 2012 #1
Can I get an amen? Zorro Sep 2012 #2
 

alcibiades_mystery

(36,437 posts)
1. You want fewer consequences? Increase the tax rate for top income earners
Sat Sep 15, 2012, 09:31 PM
Sep 2012

The reason the sequestration is going into place is simple: the GOP refused any revenue increase (taxes) whatsoever, for any group or income bracket, period. So, if we're lower on embassy security, talk to Paul Ryan and the Grover Norquist pledge people. If the Marines operations people have $850 million less to work with, talk to Paul Ryan and the Grover Norquist pledge people. If you can only build 90% of your ship, talk to Paul Ryan and the Grover Norquist pledge people.

Paul Ryan and the Grover Norquist pledge people had ample opportunity to deal fairly on a balanced approach of cuts to spending and revenue increases that wouldn't affect the middle class. They refused. They stonewalled. They blocked and fought and obstructed. No tax increase, period, they screamed. So the President made a deal with them, a deal that left Democrats howling that he was a sell-out. He said, develop a balanced approach of spending cuts and tax increases as a Supercommittee. If you fail, if you can't compromise, then the sequestration comes in, and everything gets cut across the board. If you can't act responsibly, if you can't compromise, then everything gets cut, including defense and everything else.

Hooray, screamed the GOP. Hooray screamed Cantor, and Boehner, and Ryan, and Grover Norquist. Obama has CAVED! He's CAVED. We won! We got 98% of what we asked for! We forced him to cave! The Dems, too, and the progressives! Oh, horrible, they moaned. Obama has traded away SS and Medicare! And the GOP all went and VOTED for their great victory: Super Committee or the sequestration. They voted to cut the Marine operations budget $850 million if they couldn't compromise. They voted to cut the embassy security budget if they couldn't compromise. They voted to slice 10% of that ship if they couldn't commpromise. Cantor voted for it. Boehner voted for it. Ryan voted for it.

So, why are we facing the sequestration? Because they refused to compromise. They refused even ONE RED CENT of tax increases on top income earners. Not a dime. Not a penny. they stonewalled and blocked and obstructed, even though they knew that if they didn't deal, the defense cuts would come in. They knew what the sequester said, and they still refused to deal. Paul Ryan knew what the sequester would entail, and still refused to raise taxes one penny on the rich. he's rather the rich not pay one penny more than the Marines keep their operations budget. He'd rather the rich not pay one penny more than the embassies be secure. He'd rather the rich not pay one penny more than that ship be built at 100%. That's Paul Ryan. Ask Paul Ryan why those cuts are coming down the pike. he'll probably lie to you, like he did to Norah O'Donnell, but the answer is clear as day. Rather than his rich friends paying a single cent more in taxes, Paul Ryan will sacrifice the Marines, the embassy security, and the Navy. he doesn't give a good goddamn, just so long as no taxes are increased on his rich friends.

Ask Paul Ryan why the sequestration is happening. It's his sequestration, after all. It's his victory. So ask him.

Latest Discussions»Retired Forums»2016 Postmortem»Everything you need to kn...