Automatic cuts in the federal budget, known as sequestration, went into effect last week, and the latest poll shows most Americans, 46 percent, believe the cuts are bad for the country. 34 percent said they were a good thing, while another 20 percent either said they would have little or no impact…
While a 2% expense reduction sounds doable in just about any budget, the problem is that these are not strategic cuts. Instead, they are spread unilaterally and ignore big ticket items such as entitlements and tax reform. Without these two key ingredients, very little long-term deficit reduction will be accomplished while taking the toll on fundamentals such as education and job creation.
If the sequester is not averted and the impact of these cuts starts being felt by the general public, it will be interesting to see if anyone still favors this action. We are Americans before we are Republicans or Democrats and our country is in a very critical situation and our Congressional representatives are wasting precious time playing the blame game.
That's my perspective. What's yours?