The budget drama of the past two years has finally reached a boiling point.
The dreaded sequester, a broad swath of arbitrary government cuts, came into effect March 1.
Citizens winced as congressional members and its leaders stood by and watching these cuts go into effect. This was especially annoying as there was chance after chance to prevent the fiscal bloodletting.
Keep in mind that the cuts that were signed into law by the President are not actual cuts to the budget, but are cuts to anticipated increases.
True, the nation has issues with spending and taxing. What is certain, our problems seem to stem from here.
We see it like this...think of the budget as a person, who has a little bit of weight problem, their diet has consisted of:
- Wars in Iraq and Afghanistan
- Tax cuts for the rich
- Medicare part D
The person is becoming so overweight that its endangering their health, they might not be able to take care of their elderly parents or invest in their young children. Plus they need to stop borrowing from their friends from China and Brazil.
But they do not want to go through the hard choices of physical activity and eating less, so instead they “Rig their fridge to explode when they open it”.
Now that these so-called cuts have gone into effect, it is anticipated that they will have a great impact on the economy. The Congressional Budget Office estimates that the cuts will slow economic growth by would be slowed by 0.6 percent.
The economy is stagnant as is. Now with this sequestration it appears stagnation will be sticking around like an unwelcome relative.
No doubt we need to get our fiscal house in order, (more on that later). But that is no excuse for the current political logjam in Washington. To us citizens it is incompetence at its best.