Have you heard? The day of reckoning is soon upon us – on March 1, 2013, the 2013 Sequestration goes into effect, and the Executive Branch must direct $85 Billion in cuts in the current year before October 1. The Sequester was supposed to be the impetus to get the two parties to agree to […]
If you read this web site the odds that you are also living under a rock are pretty small. That probably means you already know that over the weekend the so-called Deficit Reduction Supercommittee failed to reach an agreement (and had to admit its failings on Monday). A little back-story: the Debt Panel was trying to find deficit savings in excess of $1.2 Trillion over the next 10 years. A little more back-story: the entire concept and execution of the debt panel was a disgusting farce. The entire $1.2 Trillion was to be cuts from ‘baseline spending’, also know to the rest of us as ‘planned future spending increases’.