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View Diary: Abbreviated Pundit Round-up: False equivalency edition (124 comments)

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  •  Sequester in advance (0+ / 0-)

    It is not true that the sequester will take time to have an impact. From everything I've read, even before the Feds have decided exactly where the cuts will fall, EVERYONE who gets any Federal money has been behaving as if their entire allotment is going to disappear. NIH isn't sending out money, and isn't making new grants, so anyone with an NIH grant is putting off hiring and preparing for layoffs, and so on all down the line. Defense contractors don't know how badly they'll be hit, so they're laying people off now. Not all of those cuts will be needed in the end -- it's not a 100% government shut-down, only 6% or 8% or whatever (I've seen lots of different figures -- no one seems to be able to do the basic math). But the uncertainty -- which will continue through the summer as we have at least two more manufactured crises to get through -- makes everyone freeze up and cut back to the bone.

    So actually the immediate impact is the worst possible case, which should plunge us into severe recession very quickly. Will that lead to people storming their GOP representatives' offices demanding they do something? I doubt it.

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