Congress promises Austerity in every pot

The sequestration, or across the board budget cuts begin from today. This was a part of the deal the GOP led congress and the Obama administration agreed to, in return for the GOP led Congress raising the debt ceiling.  The debt has ballooned since the Great Recession of 2008-09 as has the unemployment. The capital markets have bounced back but the employment statistics have not.  And yet all we hear  about in the national media is non-stop handwringing about the debt and deficit.  It is like worrying about losing weight while you are bleeding to death. And the indiscriminate cuts of the sequester, which will cut among other things, research budgets for NSF and NIH, is akin to a diet which cuts out nutritious food in order to achieve a quick weight loss. I just wonder how long this madness will continue.

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Posted on March 1, 2013, in Current News, Economy, Politics. Bookmark the permalink. Leave a comment.

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