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View Diary: GOP's new fiscal gambit: Endorse spending cuts they don't really want (39 comments)

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  •  Forgive my ignorance, (0+ / 0-)

    but where are these impending spending cuts occurring? Any spending cuts would be bad during this economic downturn cycle, but some are far worse than others, of course--especially when viewed through a progressive lens.
    Let's assume a fantasy world where the Dems in power stolidly reject any new compromises and allow these cuts to move forward as originally slated. What's the macro take on the effects?

    "Lone catch of the moon, the roots of the sigh of an idea there will be the outcome may be why?"--from a spam diary entitled "The Vast World."

    by bryduck on Thu Jan 24, 2013 at 08:19:51 AM PST

    •  From the OMB: (0+ / 0-)

      In their 2012  report  on the budgetary effects of the sequestration:

      However, the report leaves no question that the sequestration would
      be deeply destructive to national security, domestic investments, and core government func­
      tions.  Under the assumptions required by the STA, the sequestration would result in a 9.4
      percent reduction in non-exempt defense discretionary funding and an 8.2 percent reduction
      in non-exempt nondefense discretionary funding. The sequestration would also impose cuts
      of 2.0 percent to Medicare, 7.6 percent to other non-exempt nondefense mandatory programs,
      and 10.0 percent to non-exempt defense mandatory programs

      "In this world of sin and sorrow there is always something to be thankful for; as for me, I rejoice that I am not a Republican." - H. L. Mencken

      by SueDe on Thu Jan 24, 2013 at 09:51:07 AM PST

      [ Parent ]

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