Europe's Austerity reaches the U.S. "This sequester is basically an American austerity program."
Republicans have managed to create their austerity program. Where everyone thought they wouldnt be crazy enough to allow such a thing to happen, it actually fits in with their idea of drowning it in the bathtub, regardless of the consequences.
Hopefully the blowback will run them out of office. 2nd it should lay to rest the Republican myth that the government doesnt create jobs.
"With enormous struggle, the sluggish economy managed to create 2.2 million jobs last year. But beginning at the end of this month, at least half that amount — more than a million jobs — will start to disappear because of a mindless government austerity program that no one in Washington seems able to stop.
From the armed forces to the Federal Bureau of Investigation, every program except for most safety-net benefits is about to be cut by an arbitrary process known as the sequester, instigated by the 2011 Republican rampage against government. Over the next seven months alone, the cuts will reduce defense spending by $55 billion and nondefense discretionary spending by $27 billion.
The Bipartisan Policy Center, a respected independent group, said at least a million jobs will be lost this year and next because of the slowdown caused by withdrawing so much money from the economy. The Congressional Budget Office says up to 1.4 million jobs are at stake."
More:
http://www.nytimes.com/2013/02/04/opinion/a-million-jobs-at-stake-with-sequester.html?_r=0
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