2016 Postmortem
Related: About this forumEverything 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 whats known as sequestration.
What still isnt 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? Thats all still unclear.
There will be some unintended consequences sooner or later, says Pete Davis of Davis Capital Investment Ideas. Theyve taken 8.2 percent out of embassy security which doesnt seem like such a great idea right now
. What are you going to do if youre building a ship and youre going to take 9.4 percent out of it? Its 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
alcibiades_mystery
(36,437 posts)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.
Zorro
(15,722 posts)AMEN! Well said!