"It’s not clear exactly what the two-month postponement will mean. Do Washington bureaucrats now have two months to figure out how to soften the cuts? Or will the sequester bomb simply be dropped March 1 instead of Jan. 2? We suspect the latter." NWF Daily News
Yes, me too. The media are once again focused on the wrong thing. The GOP has been beaten once by BHO in his struggle to intimidate the Congress and get it under control. IMO the Republican House will lack the guts to push the debt limit far enough to shut the government down and devalue US government debt.
The Sequester is another matter. These massive cuts will be automatic in March unless there is agreement on what to cut. For DoD such cuts will be devastating because they are on top of another 400 billion odd in cuts already scheduled. The hyper-nationalist present day Republican Party surely does not want that. How will they rule (protect) the world without massive forces? But, what will they be willing to give BHO in domestic spending that would compensate for "lost" defense cuts?
The great piece of "statesmanlike" legislation signed a few days ago actually makes the situation worse. The higher "rich people" rates are nothing compared to the real money that would have flowed in from higher middle class taxes. I speak not of the working poor because they do not pay regular direct income taxes although they pay other kinds of tax on their income.
Yes, we could have broken the back of the debt problem with higher (Clinton era) tax rates all around, a withdrawal from non-CT military activity on the ground overseas, a reduction in conventional ground force size, and older ages for Medicare eligibility, but we did not.
The Sequester is coming! pl