Thursday, February 28, 2013

Obama can't wait for sequestration to begin

Cuts? What cuts.... That spineless gaggle that we call our representatives won't do a damn thing tomorrow other than allow this rain wreck to happen. No attempts to be reasonable or intelligent. Just let the law do what these gutless wonders can seem to muster.

Watch the stock market tomorrow after this goes into effect. I will be surprised if Wall Street doesn't have to implement the emergency freeze of trading to stop the free fall that will surely result from this.

Sequester cuts are here to stay

By Alexander Bolton - 02/28/13 05:00 AM ET
The sequester is here to stay — at least for a while.
Lawmakers and aides say they do not expect Congress to turn off budget sequestration before April and that negotiations to freeze the automatic spending cuts could drag into May or beyond.

Over the last few weeks, there has been increased speculation that the sequester would go into effect Friday but be addressed in a March deal to keep the government funded. Don’t bet on it.
Sen. Richard Burr (R-N.C.), a member of the Finance Committee, predicted sequestration would last through the end of the year.
“Are we going to roll back the size of the cuts? No. I can promise you that,” said Burr.
President Obama has invited congressional leaders to meet at the White House on Friday, the same day $85 billion in automatic cuts are due to begin. However, congressional sources do not anticipate a deal at that gathering or any time soon.
“It’s going to be one last attempt at trying to convince Republicans of the need for a balanced approach to sequester before the deadline,” said a senior Senate Democratic aide. 
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