Gov't spending cuts

Kinda scary but the truth. 

If only we had leaders in with a backbone. 

From Dan Celia:

 

Sequester & Mandatory Spending Cuts

   

...we could come down to a point where we see the government cutting spending in order to   prevent the sequester...  

    

 

It appears as though, for the first time since the election, Republicans have the upper hand, and have some power over the President. The President announced this week that he would like to take a look at the whole "sequester thing" and consider the idea of postponing these cuts while working out a deal. The Republicans have said "This is your deal."

 

Remember that it was the President, in 2010, who came up with the idea for these mandatory cuts. Now he is saying 'Uh oh...this is not such a good idea because it looks like we may end up back in recession.' He would, therefore, like to see them prevent it. Of course, he willsomehow blame the Republicans, and the mainstream media will buy into it. The Republicans will take the hit - which could obviously cause them to againcompromise. But if they hold true to what they are saying and do not budge, this could force the hand of the Administration to come up with the $1.2 Trillion in cuts equivalent to the sequester, maintaining their spending on some of the social programs. But this Administration does not want one nickelof cuts - not even the cuts to which they agreed in 2010, when they decided to move ahead with the idea of a sequester.

 

It will be interesting to watch but wecould come down to a point wh 

ere we see the government cutting spending in order to prevent the sequester from happening. This couldbe very good for the economy. It would likely be looked on as a very positive move by the government, as we would then be reducing spending for this year and lowering our debt burden. However, do keep in mind that next year whenObamacare comes in full swing, it will be the largest entitlement in the history of our nation...and all of the estimates are likely to be off by hundreds of billions of dollars. We will likely then be back intovery deep debt with a healthcare system that looks as bad, if not worse, than Europe

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