Oh Noes, Sequestration!

It’s Sequestration Day in Washington D.C. and it’s much ado about nothing.  $1.2 trillion dollars over 10 years, half cuts to defense and half to discretionary spending.  The big secret is neither party really cares.  Everything you’re reading trying to blame the other side is just posturing.  Both parties want much more discretionary spending cuts and there are enough Republicans that want defense spending cuts to make this a pretty good deal.  So really, if you don’t work in the areas affected by the sequestration, you won’t even know it has happened.

There is some talk of cutting military salary, but I have to assume that’s just an empty threat.  If it is an empty threat, shame on the Obama administration for making it.  There are so many more ways to cut defense spending like the F-35 Joint Suffocation Fighter.  That doesn’t mean that they will, of course.

The big challenge is the looming governmental shutdown that will occur near the end of March if Congress doesn’t bother passing a budget.  If that happens, we’re likely in for another recession.  The biggest roadblock there is Republicans.  Basically, Obama is willing to give Republicans everything they want and is only asking to return tax rates to Clinton era levels.  You know, when the economy was in the crapper.  Oh, wait, no, that’s not right.