Sequestration 2013: When will it end?

Sequestration 2013: With Cuts In Place, Obama And GOP Brace For Next Fight.
To all my readers, I find it important for everyone to inform themselves about the actual sequester with an official document sent to Congress  as a direct result of Congress and the President’s inability to reach a decision to avoid the sequester that has now gone into effect on March 1. There is a lot of misinformation going around through various groups so I decided that the actual facts might be nice, then let you the reader decide what is truth. Since both parties the President and Congress refuse to come to a decision on Saturday to avoid sequester, we as a country now face the consequences through automatic spending cuts of $85 billion. Even with last minutes talks and no deal, the sequester which is outline in the official document below has gone into effect with the stroke of Obama’s pen. There are no signs that either group will budge as the Republican refuse any deal with more taxes and Democrats will not do a deal without it. Both parties lay the blame on the other for damages the cuts might inflict which are across the board.  In the words of Obama on his weekly radio and internet address, “None of this is necessary…It’s happening because Republicans in Congress chose this outcome over closing a single wasteful tax loophole that helps reduce the deficit.” The president also commented that the cuts will cause ripples across the economy the longer they stay in place and could cost more than 750,000 jobs not to mention disrupt the lives of middle class families. The next major battle for both will be to negotiate a plan to fund the government beyond March 27 or possibly face a government shutdown and another debt ceiling clash in May.

OMB REPORT TO THE CONGRESS ON THE JOINT COMMITTEE SEQUESTRATION FOR FISCAL YEAR 2013

Debt Limit Increase Approved In Senate Vote

Debt Limit Increase Approved In Senate Vote.

As the saying goes,” Why put off tomorrow, what you can do today” or the reverse in Washington. The U.S. Senate has finally voted on Thursday to pass a short term suspension of the debt limit temporarily avoiding a showdown over the nation’s borrowing limit allowing for the attention to now focus on two looming fiscal deadlines:  deep sequestration-related cuts and funding for the federal government. The legislation passed the upper chamber and allows for the debt ceiling to be raised to pay any bills the government racks up over the next 90 days. The Senate did reject amendments that would pair the debt limit with dollar for dollar spending cuts and prioritize how the bills are paid. One provision introduced by the House forces the Senate to write a budget by withholding pay if lawmakers do not pass a spending resolution. Though optimism is in the air to meet financial obligations until May 19, there is little hope fro an agreement on how to deal with $1.2 trillion of sequestration related cuts that kick in March 1. The fiscal cliff deal delayed it by two month and reduced its impact, but the consequence are still dire and unpopular among both sides. The implications include defense spending and non-defense spending i.e. community development, housing assistance, states’ education grant and federal agencies. The administration has an alternative “balanced” plan that couples spending cuts with revenue raisers and could replace the sequester, but the Republicans in Congress have said the lover chamber has already voted on a substitute bill for sequestration that the Democrats should consider.  Shortly after the measure passed today House Speaker John Boehner (R-Ohio) issued a statement reiterating the need for the Senate to pass a budget or no pay.