Great. So now, we get to go through all of this AGAIN in a very short time.
Thanks GOP! What a great political party!
Now that the GOP has given Bath House Barry (who clearly demonstrated what a street punk he really is today) and the Democrats 85% of what they wanted (higher taxes, $200 Billion for the perpetually "unemployed", tuition tax credits for Obama's perpetual "students", etc - the GOP is left with very little leverage. The debt ceiling debate will be more of the same, and they will cave, because they have proven 100% incapable of reforming what is really breaking the back of this nation - ENTITLEMENTS.
67% of the Federal dollars spent direct payments in the form of Entitlements. And it is getting worse by the day.
It looks like in just days or weeks we will now have to endure Sequestration, because it cannot be stopped.
The DoD will have to cut Operations and Maintenance much, much more than the 9.4%. They cannot touch troop strength (Obama will cut that soon and pay no political price for it anyway), so they will cut O&M, probably by 25% or greater. That will devastate the military.
And it won't stop there.
10 Devastating Sequestration Cuts That People Are Afraid Will Happen Read more: http://www.businessinsider.com/10-devastating-sequestration-cuts-that-people-are-afraid-will-happen-2012-12?op=1#ixzz2GgfCoA9H
"The military is already contending with a $487 billion cut over the next ten years as a result of existing budget cuts. Since the existing funds for the war and military pay are exempt, the remainder of military funding will take a harder hit as well. The sequestration would lead to an additional $55 billion cut from the military over nine years, and some analysts think this could national defense to the bone. General Martin Dempsey, the chairman of the joint chiefs of staff, says that the cuts will leave the armed forces hollowed-out.
Every military contract may need to be completely renegotiated
Small, local contractors could be forced out of business
The entire defense industry could be thrown into chaos
Massive rises in unemployment in a number of states
"Several states have an abnormally high proportion of employees who work for the government. As a result of sequestration, there will be firings, furloughs and hiring freezes in many agencies, depending on how each individual agency may decide to implement different cuts. Here are the five states that may be hit the hardest as a result of their high levels of federal government employment:
And here is the best part! The cost of delaying the Sequester for the next 2 years is less than the cost of extending "unemployment" benefits to the layabouts, but the Sequester is going to take place but the "benefits" to the lazy 99ers is already agreed to! Isn't that great!!!
We don't need enemies with "friends" like this.
The military budget should not be not cut just because it would harm business or employment numbers.