How sequestration will affect Ga. citizens, businesses
Because of required furloughs and spending reductions for TSA security agents, FAA air traffic controllers, customs agents and other personnel, flight delays of up to four hours are predicted at major airports such as Atlanta's Hartsfield-Jackson International Airport.
——————————–
On Friday, March 1, federal spending cuts forced by sequestration will be implemented. The total amount of spending to be cut — $85 billion — is somewhat small, but its impact is magnified by three specific provisions of the sequestration law:
1.) Major budgetary areas such as Social Security, interest on the debt, the Department of Veterans Affairs and military pay are off-limits to cuts. Cuts in Medicare reimbursement are limited to 2 percent. That concentrates spending reductions to remaining portions of the budget.
2.) By law, federal agencies that do face sequestration do not have the ability to pick and choose which programs will be cut or by how much. All cuts must be across the board, by meat cleaver rather than scalpel.
3.) The law requires savings in the current fiscal year, which began in October 2012. Because the required cuts are not being implemented until March, they must be backloaded into the final months of fiscal 2013, compounding the impact. As a result, non-defense discretionary spending will be cut by 9 percent for the remainder of the fiscal year; defense spending will be cut by 13 percent.
As a result of the provisions outlined above, the consequences of the sequestration are relatively simple to project. Here is a sampling of the impact on Georgia, as outlined by the Office of Management and Budget:
Teachers and Schools: Georgia will lose approximately $28.6 million in funding for primary and secondary education, putting around 390 teacher and aide jobs at risk. In addition about 54,000 fewer students would be served and approximately 80 fewer schools would receive funding.
– Education for Children with Disabilities: In addition, Georgia will lose approximately $17.5
million in funds for about 210 teachers, aides, and staff who help children with disabilities.
Military Readiness: In Georgia, approximately 37,000 civilian Department of Defense employees would be furloughed, reducing gross pay by around $190.1 million in total.
– Army: Base operation funding would be cut by about $233 million in Georgia.
– Air Force: Funding for Air Force operations in Georgia would be cut by about $5 million.
Vaccines for Children: In Georgia around 4,180 fewer children will receive vaccines for diseases such as measles, mumps, rubella, tetanus, whooping cough, influenza, and Hepatitis B due to reduced funding for vaccinations of about $286,000.
———————————
Aviation is a major industry in Georgia. Hartsfield-Jackson International Airport boasts the busiest airport in the world, and many businesses are located in the metro Atlanta region because of easy access to Hartsfield. However, spending cuts required by sequestration will greatly reduce the efficiency of the national system. As the OMB reports:
Aviation – At the major gateway airports, average wait times could increase by 30-50 percent. At the nation’s busiest airports, like Newark, JFK, LAX, and Chicago O’Hare, peak wait times could grow to over 4 hours or more.
Aviation security – The Transportation Security Administration (TSA) would reduce its front-line workforce, which would substantially increase passenger wait times at airport security checkpoints. TSA would need to initiate a hiring freeze for all transportation security officer positions in March, eliminate overtime and furlough its 50,000 officers for up to seven days.
Aviation safety – The Federal Aviation Administration (FAA) would be forced to undergo a funding cut of more than $600 million. This action would force the FAA to undergo an immediate retrenchment of core functions by reducing operating costs and eliminating or reducing services to various segments of the flying community… The furlough of a large number of air traffic controllers and technicians would require a reduction in air traffic to a level that could be safely managed by the remaining staff, resulting in slower air traffic in major cities, as well as delays and disruptions across the country during the critical summer travel season.
—————————————-
Other impacts, also as reported by OMB:
Small business assistance – Small Business Administration (SBA) loan guarantees would be cut by up to approximately $900 million, constraining financing needed by small businesses to maintain and expand their operations and create jobs.
Oil and gas permitting – Development of oil and gas on Federal lands and waters would slow down, due to cuts in programs at the Department of the Interior (DOI) and other agencies that plan for new projects, conduct environmental reviews, issue permits and inspect operations. Leasing of new federal lands for future development would also be delayed, with fewer resources available for agencies to prepare for and conduct lease sales.
Veterans services – Although the Department of Veterans Affairs is exempt from sequestration, the Department of Labor’s Veterans Transition Assistance Program, which serves over 150,000 veterans a year, would have to reduce operations – leaving thousands of transitioning veterans unserved as they move from active duty to civilian life. The Jobs for Veterans State Grants Program would also experience cuts, translating into a reduction in the capacity to serve tens of thousands of veterans in their efforts to find civilian employment.
Title I education funds – Title I education funds would be eliminated for more than 2,700 schools, cutting support for nearly 1.2 million disadvantaged students. This funding reduction would put the jobs of approximately 10,000 teachers and aides at risk. Students would lose access to individual instruction, after-school programs, and other interventions that help close achievement gaps.
Senior meals – Federally assisted programs like Meals on Wheels would be able to serve 4 million fewer meals to seniors. These meals contribute to the overall health and well-being of participating seniors, including those with chronic illnesses that are affected by diet, such as diabetes and heart disease, and frail seniors who are homebound. The meals can account for 50 percent or more of daily food for the majority of participants.
Mental health and substance abuse services – Cuts to the Mental Health Block Grant program would result in over 373,000 seriously mentally ill adults and seriously emotionally disturbed children not receiving needed mental health services. This cut would likely lead to increased hospitalizations, involvement in the criminal justice system, and homelessness for these individuals. In addition, close to 8,900 homeless persons with serious mental illness would not get the vital outreach, treatment, housing, and support they need through the Projects for Assistance in Transition from Homelessness (PATH) program.
FBI and other law enforcement – The FBI and other law enforcement entities would see a reduction in capacity equivalent to more than 1,000 federal agents. This loss of agents would significantly impact our ability to combat violent crime, pursue financial crimes, secure our borders, and protect national security.
Customs and border patrol – U.S. Customs and Border Protection (CBP) would not be able to maintain current staffing levels of border patrol agents and CBP officers as mandated by Congress. CBP would have to reduce its work hours by the equivalent of over 5,000 border patrol agents and the equivalent of over 2,750 CBP officers.
– Jay Bookman
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1,346 comments Add your comment
USA Patriot
February 25th, 2013
7:01 pm
Ciao, josef! It’s a full moon monday, can’t ya tell on this blog? That’s how the day went.
E, come è stata la tua giornata?
bman.
February 25th, 2013
7:02 pm
Hey, we’ve all suffered under this administration. Share in the pain…
Redneck Convert (R--and proud of it)
February 25th, 2013
7:02 pm
Well, I see we’re finally reaching out to get the women’s vote. It’s about time.
http://www.theonion.com/video/republicans-reach-out-to-women-with-new-no-punch-p,31381/
TBS: Posting on weekends so PD can cry on Monday
February 25th, 2013
7:02 pm
josef
I don’t know how in all their infinite wisdom they didn’t see it coming. Maybe they did and the “paper savings” outweighed the loss in productivity.
For individuals who averaged more sick days than the new policy it hurt them because if their trend continued they had to use vacation days, no pay or even short term disability if required. Problem is those people didn’t overcome the number of folks who didn’t use many sick days, but were given the ability to use them like vacation as long as they requested in advance. Of course, why wouldn’t you use most of them and save a few for “rainy days” and that is what people did and I’m sure still do.
They may have saved money on paper but their business skill sets and experience went out the window when they misjudged the increase in loss productivity by employees whose time off increased via “approved” PTO that wouldn’t have been available under the old plan with more available sick time.
It isn’t just government that bumbles and fumbles because of bureaucracy. Many large, legacy companies have the same exact problem.
Jackie
February 25th, 2013
7:03 pm
@Sinkwich
Metaphorically, the buck does stop somewhere; the question remains is where does it stop?
Brosephus™ - Desktop but still Multitasking
February 25th, 2013
7:04 pm
Wow. He finally understands what higher taxes do to society.
Higher taxes do no such bullsh*t. If that were the case, this country would have not survived from the 1950’s until Reagan cut taxes way low. Higher taxes actually means we would need to borrow less and we would be pulling ourselves up by our bootstraps instead of going to Uncle Sugar aka China to pay for our sh*t.
josef
February 25th, 2013
7:04 pm
BROSEPHUS
Yep. Some people don’t understand that for some of us there is a motivation to do what we do in service to the public beyond money. Then, there are those who DO, and they’re the one’s screwing us!
indigo
February 25th, 2013
7:07 pm
Jay – 8:47 AM – “and almost all of them from programs that assist the poor”
Republicans know the poor cannot contribute any funding to Party elections and re-elections. So, the weak, as always, make an easy target.
Money = ALL
Conscience – NONE
josef
February 25th, 2013
7:08 pm
USA
Era un tour dei circoli quinto e sesto dell’Inferno di Dante!
F. Sinkwich
February 25th, 2013
7:09 pm
“I garr-un-tee you that you couldn’t’ve done what I did today…”
josef, an eight hour nap isn’t much of an accomplishment.
Just sayin’
josef
February 25th, 2013
7:10 pm
TBS
Yep. That’s about the size of it…like you said, it’s a shell game…
moonbat betty
February 25th, 2013
7:10 pm
Full moon Monday?
Put on your hair nets!
jhunt163
February 25th, 2013
7:11 pm
The first time we attempt real cuts and everyone goes bat crap crazy. Unbelievable.
Keep Up the Good Fight!
February 25th, 2013
7:12 pm
Higher taxes? Because a proposal to limit the deductions the top 2% can take so that they cannot go below a 30% effective rate (with exclusions for charitable contributions from the rule) is asking way too much…. I am sure those in the 28% tax bracket will certainly tell you how “unfair” that is. However with 14% effective rate Mitt afford it?
josef
February 25th, 2013
7:15 pm
SINKWICH
First off, it was an 11 hour day there (the report is on the other screen right now, being “fine-tuned” to fit the right jargon) and, boy, howdee, if I COULD’VE napped, I sure would’ve..I didn’t even have time to grab a cup of coffee, much less lunch…but, hey, it is what it is…
josef
February 25th, 2013
7:16 pm
moonbat
I ain’t got no hair left…already pulled it out!
Orange13
February 25th, 2013
7:18 pm
What are the odds of 16 straight years of ineffective presidential governance?
F. Sinkwich
February 25th, 2013
7:19 pm
Well Jackie, perhaps you could chronical O’bozo’s successful efforts to reduce energy prices anywhere.
You can’t, because he has a war on fossil fuels. His Sec of Energy said our gas prices must equal Europe’s. O’bozo himself said he would kill coal, which he’s done.
That idiot wants everyone on a bicycle with a solar powered windmill energizing dim curly bulbs in a 500 sqf house.
USA Patriot
February 25th, 2013
7:20 pm
josef – Beh, speriamo di avere una serata migliore. Grazie, josef, mi godo questi scambi.
Hai una buona serata! Fate i bravi!
josef
February 25th, 2013
7:21 pm
ORANGE
@ 7:18
Odds? Pretty good I’d say, got over 200 years of it already…
Jackie
February 25th, 2013
7:22 pm
It is hard to understand why the so-called conservatives have religion about cutting government spending, especially in the middle of a fragile recovery where the private sector is still sitting on their profits to the tune of $2 Trillion dollars.
Without money injected into the system, the demand of the consumer is negated by the fact they do not have money to spend to generate more supply(jobs).
http://www.washingtonpost.com/blogs/wonkblog/wp/2013/01/30/government-is-hurting-the-economy-by-spending-too-little/
bman.
February 25th, 2013
7:22 pm
“That idiot wants everyone on a bicycle with a solar powered windmill energizing dim curly bulbs in a 500 sqf house.”
Georgia’s very own Roy Barnes feels this way, too. Every night – every single night, his house is lit up like a Christmas tree (inside and out).
moonbat betty
February 25th, 2013
7:23 pm
“already pulled it out”
Well, josef, consider yourself lucky.
At least you don’t have to worry about it for awhile…
Some pay good money for that.
josef
February 25th, 2013
7:24 pm
USA
Mi piacciono anche. Grazie per l’occasione. E più G & T, meglio è!
Jackie
February 25th, 2013
7:26 pm
@Sinkwich
President Obama has increased fossil fuel exploration in the USA. Matter of fact, fossil fuels are being brought to the market to such an extent there is limited storage for all the oil and gas being produced.
Easy reading.
http://news.nationalgeographic.com/news/energy/2013/02/130225-us-gas-price-spike-refineries/
josef
February 25th, 2013
7:26 pm
moonbat
Well, there is that!
moonbat betty
February 25th, 2013
7:26 pm
“That idiot wants everyone on a bicycle with a solar powered windmill energizing dim curly bulbs in a 500 sqf house.”
Viva Europa!
jhunt163
February 25th, 2013
7:27 pm
the private sector is still sitting on their profits to the tune of $2 Trillion dollars”
Yes because most of that money is parked overseas. They have no incentive to bring it home.
USA Patriot
February 25th, 2013
7:29 pm
Jackie 7:22 – “It is hard to understand why the so-called conservatives have religion about cutting government spending, especially in the middle of a fragile recovery where the private sector is still sitting on their profits to the tune of $2 Trillion dollars.”
Yep, full moon, the idiots are out this evening. Oh, by the way Jackie, you can multiply that number the private sector is “sitting” on.
Kamchak ~ Thug from the Steppes
February 25th, 2013
7:29 pm
They have no incentive to bring it home.
And there’s your sign.
Jackie
February 25th, 2013
7:30 pm
@jhunt163
The private sector will have to bring those profits back to the USA because the world is moving to a new accounting standard where housed profits will be taxed.
Secondly, the corporations purport to hold the money until Europe becomes more stable.
Orange13
February 25th, 2013
7:31 pm
“The first time we attempt real cuts and everyone goes bat crap crazy”
Well yeah. Especially if it’s going to hit you in the billfold/purse right off the get go like it is going to in relation to some people on here.
Brosephus™ - Desktop but still Multitasking
February 25th, 2013
7:32 pm
Yes because most of that money is parked overseas. They have no incentive to bring it home.
If the eventual collapse of America isn’t enough incentive, then I don’t know what is. Our economy is just like our circulatory system. When the blood (money) circulates well, everything’s ok. When the system get’s clogged, you end up with a stroke or a heart attack that’s gonna hurt or even be fatal in worst case scenario. When one side of the heart has to pump harder to keep the blood circulating, as the current situation with the public sector trying to keep the economy going by increasing spending, you eventually end up with heart failure and/or a heart attack.
Holding currency out of the economy does more damage than $16T worth of government spending could ever do.
Jackie
February 25th, 2013
7:33 pm
@USA
You state the “idiots are out this evening.” Didn’t know they gave you a pass?
moonbat betty
February 25th, 2013
7:34 pm
Sorry, but Obama and the democrats have been a wet blanket on the economy since 06.
Bad for business period.
Jackie
February 25th, 2013
7:35 pm
@Brosephus
Many of the so-called conservatives do not want to acknowledge the fact that the USA is one-fourth of the WORLD’S economy.
If we sink, the world sinks.
getalife
February 25th, 2013
7:35 pm
The corps are not sitting on that money, it is to cover their losses in another collapse.
No more bailouts.
jhunt163
February 25th, 2013
7:36 pm
The private sector will have to bring those profits back to the USA because the world is moving to a new accounting standard where housed profits will be taxed.
The world can’t agree on anything. There always be some version ofCayman Islands or Irish banks to park money I will believe on the whole world agreeing to it when I see it.
Jackie
February 25th, 2013
7:36 pm
Please list your reasons as to why you think President Obama has been a “wet blanket” for business?
Jackie
February 25th, 2013
7:38 pm
@jhunt163
Apparently, the majority of your “factual” news comes from either FOX or RUSH.
http://www.chicagotribune.com/business/sns-rt-us-accounting-standards-usbre91o0qk-20130225,0,6105141.story
moonbat betty
February 25th, 2013
7:38 pm
Funny how the so called liberals think this economy is great…
I guess they can’t tell the difference.
I wonder why??
Peadawg
February 25th, 2013
7:38 pm
“Bad for business period.”
Record profits says, “What?”
Kamchak ~ Thug from the Steppes
February 25th, 2013
7:38 pm
CAN I GET AN AMEN?!!
Brosephus™ - Desktop but still Multitasking
February 25th, 2013
7:38 pm
Sorry, but Obama and the democrats have been a wet blanket on the economy since 06.
Nah, POLITICIANS have been a wet blanket on our economy since the 1970s.
josef
February 25th, 2013
7:38 pm
Okay, here’s a million dollars…what are YOU going to do with it?
Kamchak ~ Thug from the Steppes
February 25th, 2013
7:39 pm
Oops for got the quote.
Holding currency out of the economy does more damage than $16T worth of government spending could ever do.
CAN I GET AN AMEN?!!
F. Sinkwich
February 25th, 2013
7:39 pm
“…where the private sector is still sitting on their profits to the tune of $2 Trillion dollars.”
Perhaps they could hire josef to nap.
Sadly, some people have no clue about business.
josef
February 25th, 2013
7:42 pm
SINKWICH
“Perhaps they could hire josef to nap.”
As Reb Tevye would say, “I would agree if they would agree…”
jhunt163
February 25th, 2013
7:43 pm
“The IASB, whose rules are used in over 100 countries”
Unfortunately, the State Department recognizes 194 Countries, not including City States. I am sure some of them have banks.
Jackie
February 25th, 2013
7:43 pm
The economy would be great if there were a way to get the so-called conservatives to understand what the House Repubs are doing to this country.
One simple solution to our economic morass is the refusal of the House to allocate money to refurbish our 70,000 substandard bridges.
As most folks know, there is a multiplier of 2 – for every dollar invested, 2 dollars is put back in the economy – for simply refurbishing a bridge.
How many people would that employ? OMB estimates 3 million.
TBS: Posting on weekends so PD can cry on Monday
February 25th, 2013
7:43 pm
Bro @ 7:32
Bingo. If the number of people who took advantage of “cheap credit” over the last 30 years had been much less, we would have grown to a halt years ago. Problem now is that the credit card is full and consumer demand is down.
Same people want to talk about supply and demand, don’t want to talk about what drives 70% plus of the economy………. the consumer
td
February 25th, 2013
7:44 pm
Jackie
February 25th, 2013
7:26 pm
@Sinkwich
President Obama has increased fossil fuel exploration in the USA. Matter of fact, fossil fuels are being brought to the market to such an extent there is limited storage for all the oil and gas being produced.
First, Fact most all increased oil exploration has been done on private lands by private companies. The Obama administration has actually done a great deal to cut the potential of increased production on public lands (which by the way could be bringing revenues into the government). Let us not forget about the 2 to 3 million more jobs the Keystone pipeline would be providing to the economy now.
As far as storage capacity and refining capacity (which is the real reason gas prices are so high) then you need to blame the environmental movement and government regulations for permitting, environmental policies and safety.
We are paying for now the years we (the nation) have allowed the environmental whackos to run around and get their way.
barking frog
February 25th, 2013
7:45 pm
F. Sinkwich
What effect does leaving overseas earnings there have
on the economy?
Jackie
February 25th, 2013
7:46 pm
@jhunt163
Do you think those remaining countries, whoever they may be, will have such an impact as to cause the world’s economy to falter?
Glad you read the article.
Brosephus™ - Desktop but still Multitasking
February 25th, 2013
7:46 pm
Same people want to talk about supply and demand, don’t want to talk about what drives 70% plus of the economy………. the consumer
Exactly, and the economy is like the honey badger in that it doesn’t give a sh*t who the consumer is, where the money comes from, and/or who’s actually footing the bill. All that matters is that we have consumption, the more the better.
USA Patriot
February 25th, 2013
7:47 pm
“Didn’t know they gave you a pass?”
Passed right by ya knucklehead! Oh, oh, oh, is that you w/ one headlight out in the distance behind me?
Brosephus™ - Desktop but still Multitasking
February 25th, 2013
7:47 pm
TBS
One thing I’ve been curious about with the credit is that, if less people had gone overboard with credit, how much less would the crash in 2008 have been since it was credit fueled.
F. Sinkwich
February 25th, 2013
7:48 pm
“When the system get’s clogged, you end up with a stroke or a heart attack that’s gonna hurt or even be fatal in worst case scenario.”
Yep. That’s what high taxes do all right.
Kamchak ~ Thug from the Steppes
February 25th, 2013
7:49 pm
If the number of people who took advantage of “cheap credit” over the last 30 years had been much less, we would have grown to a halt years ago.
I don’t know about a complete halt, but we definitely wouldn’t have had the rapid growth booms. The same people that went long on the markets during the booms were also first in line to short the markets when they went bust.
I think the financial industry has become addicted to this boom/bust cycle.
They need an intervention
Brosephus™ - Desktop but still Multitasking
February 25th, 2013
7:50 pm
Let us not forget about the 2 to 3 million more jobs the Keystone pipeline would be providing to the economy now.
Got a cite for that number because that seems awful high for a single pipeline?
Jackie
February 25th, 2013
7:50 pm
@td
Does it matter where the fossil fuel comes from? I think the fuels found in the Middle East are on private land, don’t you?
And that Keystone foolishness is just that, foolishness. At best, it would generate 2,000 jobs yearly unless there were a disaster and we had to employ many thousands to try and clean up the aquifers it would pollute.
http://www.4-traders.com/IMPERIAL-OIL-LIMITED-1410448/news/U-S-shale-boom-forces-change-in-Canadian-oil-patch-16299786/
TBS: Posting on weekends so PD can cry on Monday
February 25th, 2013
7:51 pm
td: you must be talking natural gas which has certainly been increasing on private lands…………….
“Overall, the percentage of U.S.-produced natural gas from federal lands — relative to that produced from private ones — fell significantly over the past eight years, from 35% to 21%, reported Sieminski.
Oil production is more a mixed bag. On state and private lands, oil production was actually going down in the 2000s, leveled off between fiscal years 2007 and 2010, then went up by 385,000 barrels a day in fiscal year 2011, when the most recent data are available, Sieminski said.
On federal and Indian lands, as well as federally approved offshore drilling sites, oil production went up from 1.6 million barrels per day to 2 million barrels per day between fiscal years 2008 and 2010. But it dropped to 1.8 million barrels per day for the last fiscal year available, a decrease that the U.S. Energy Information Administration attributes to the impact of the Deepwater Horizon oil spill in the Gulf of Mexico.
Despite the one-year drop in production, oil production on federal and Indian lands from 2009 through 2011 totaled 2.027 million barrels. That’s an average of 675,000 barrels per year during Obama’s term, compared to an average annual production of 609,000 barrels annually during Bush’s last term.”
http://www.cnn.com/2012/10/04/politics/fact-check-oil-gas
But you knew that already, right?
F. Sinkwich
February 25th, 2013
7:52 pm
“One simple solution to our economic morass is the refusal of the House to allocate money to refurbish our 70,000 substandard bridges.”
Bwaahahahahahahaha
Shovel ready!!! Stimulus you mean? Been there, done that. Pissed away $1 trillion on that one.
jhunt163
February 25th, 2013
7:52 pm
Do you think those remaining countries, whoever they may be, will have such an impact as to cause the world’s economy to falter?
I think water travels to the path of least resistance. Money parked in banks, is invested in banks and that investment will drive an economy.
hamiltonAZ
February 25th, 2013
7:52 pm
Congress wants to reduce the deficit in a weak economy. Without new taxes on high-income Americans, the cuts will cause higher unemployment, lower productivity – probably end the economic recovery.
Contrary to the noise, spending didn’t get us to this place, the revenue shortfall caused by the Bush tax cuts did. Like it or not, the public will not stand for cutting Social Security (notice who was elected President) and, while government spending can be reduced, revenue will have to increase.
In the meantime, we will stagnate until the scofflaws in congress recognized that normal budget processes are the only way to build confidence in the USA.
Running the engine of the world (USA) on continuing resolutions is less like Tarzan swinging from vine to vine and more like George of the Jungle.
Jackie
February 25th, 2013
7:53 pm
@USA
Glad to know that you will try to defend your specious position.
Know that we have that little unpleasantness out of the way, when you address me with any of your other pejoratives, be sure I am coming back at you with the same fury.
TBS: Posting on weekends so PD can cry on Monday
February 25th, 2013
7:54 pm
td
You did say “exploration” and not extraction, so for that I give you a deserved pass.
But I am sure you know that oil production on government land is higher today than it was under Bush even with decreased permits, right?
Jackie
February 25th, 2013
7:54 pm
@jhunt163
How can money parked ANYWHERE drive any investment without spending that money on the investment of choice?
0311/8541/5811/1811/1801
February 25th, 2013
7:54 pm
Best comparison video I’ve seen.
Assault Rifle vs. Sporting Rifle
http://www.youtube.com/watch_popup?v=8C-CLsMRcA0
josef
February 25th, 2013
7:55 pm
Okay, paid time off, full moons and government employees…
I don’t know if they still do or not, but there was a time when the Mississippi State Hospital (the looney bin) paid a 10% dividend to employees who worked during the full moon…it wasn’t that they were buying in to the folk wisdom, but they did have trouble filling the slots that were being left unstaffed from folks taking the PTO at that time…
getalife
February 25th, 2013
7:56 pm
“Phil Gramm is the Forrest Gump of financial calamity. Time and again, his face appears at key moments in history. Unlike Gump, Gramm is usually planting the seeds of future disaster whenever he pops up.
Former Texas Senator Gramm is best known for his fine work dismantling financial regulations in the 1990s, which helped bring us the financial crisis of the mid-to-late-2000s. But he is also the intellectual father of the latest nightmare deviling the economy: the sequester.
Gramm was co-author of the Gramm-Rudman-Hollings Balanced Budget and Emergency Deficit Control Act of 1985, in which the idea of the “sequester,” or “sequestration,” was introduced as a fancy term for “nightmarish budget cuts.” In fact, Gramm was the guy who introduced the idea of using sequestration as a whip to goad policy makers into cutting the deficit, Marketplace points out.”
Get out of our economy gop.
0311/8541/5811/1811/1801
February 25th, 2013
7:57 pm
AP
“As Obama prepares to visit Newport News, Va., to highlight spending cuts, House GOP leaders urge the president to hunker down with Congress to reach an alternative to looming spending cuts, saying it is not the time for ‘campaigning.’ “
Brosephus™ - Desktop but still Multitasking
February 25th, 2013
7:57 pm
Yep. That’s what high taxes do all right.
Ok, which one of the talking dipsh*ts used the code word “high taxes” today?
Jackie
February 25th, 2013
7:57 pm
@Sinkwich
Check out the link that clearly shows how the stimulus money was/was not spent.
http://www.news9.com/story/21096213/four-years-later-federal-stimulus-money-still-unspent
Brosephus™ - Desktop but still Multitasking
February 25th, 2013
7:59 pm
Been there, done that. Pissed away $1 trillion on that one.
So, you’re in agreement that tax cuts don’t spur growth, huh?
jhunt163
February 25th, 2013
7:59 pm
How can money parked ANYWHERE drive any investment without spending that money on the investment of choice?
That’s right, I forgot, banks don’t invest deposits. They simply make huge amounts of cash from checking club fees….
dixie normous
February 25th, 2013
8:00 pm
its always time for campaigning for obama. he has to do what he knows. he sure as hell cant lead.
moonbat betty
February 25th, 2013
8:02 pm
“Please list your reasons as to why you think President Obama has been a “wet blanket” for business?”
Jackie,
Main reason is perception.
The perception is that dems are not concerned with providing opportunities for small business and the middle class to thrive and recover.
Perception is everything.
I know the libs here working for the government see it differently as they obviously have been doing much better since 5 years ago, but that is not the reality for most in the private sector.
The dems and obama are throwing out a dog and pony show.
TBS: Posting on weekends so PD can cry on Monday
February 25th, 2013
8:03 pm
Bro
I think it is a double edged sword that of course has been sharpening for 30 or more years and culminated with the housing bubble bursting.
Less credit used by individuals and companies would have certainly lessened the blow imo, however there would not have been as many jobs without the additional funds in circulation.
Beyond my pay grade to say which side of the coin did we want as individuals, companies and a country, but certainly it was a double edged sword that was going to cut at sometime.
Kamchak ~ Thug from the Steppes
February 25th, 2013
8:03 pm
The private sector relies on Madison Avenue for reality.
getalife
February 25th, 2013
8:03 pm
The gop should never opine about our economy again.
They are disaster waiting to happen.
bman.
February 25th, 2013
8:04 pm
I admit that I find it a bit odd that Obama and the Reps are talking about each other, and not to each other.
moonbat betty
February 25th, 2013
8:05 pm
BTW,
That link from Soothsayer on what a trillion $$ looks like earlier today was cool if you didn’t see it.
h/t Soothy.
Jackie
February 25th, 2013
8:06 pm
@jhunt163
When anyone makes a capital investment, they are doing it to benefit the investor, not the economy.
Bank A invest $1 Trillion dollars; Bank A gets the Return On Invest, no one else.
moonbat betty
February 25th, 2013
8:06 pm
“I admit that I find it a bit odd that Obama and the Reps are talking about each other, and not to each other.”
bman – that’s what leaders are for…
Jackie
February 25th, 2013
8:06 pm
@moonbat betty
Perception is not reality.
bman.
February 25th, 2013
8:07 pm
“Bank A invest $1 Trillion dollars; Bank A gets the Return On Invest, no one else.”
wow
hamiltonAZ
February 25th, 2013
8:08 pm
Your special needs child underserved? Call your congressman. Your gifted child sent back to regular education? Call your congressman. You live in a county with an air force base? Be sensitive to the thousands of civilian workers furloughed at the local AFB. Hope your shops survive when they go on the austerity plan or move.
indigo
February 25th, 2013
8:08 pm
dixie normous – 8:00
I’ll bet you think Romney would have been just a SUPER leader, right Bunky?
josef
February 25th, 2013
8:08 pm
USA
Sei un DJ in Huntsville? Questo è che stava nella mia stazione radio da li quando ho letto il tuo @ 7:47!!!
http://www.youtube.com/watch?v=Zzyfcys1aLM
USA Patriot
February 25th, 2013
8:09 pm
Jackie 7:54 – Bring in on bitch! Let’s see whatcha got!
jhunt163
February 25th, 2013
8:09 pm
Jackie,
People take investments and use them to create businesses. It is the same argument that you were using for putting the money to work.
Soothsayer
February 25th, 2013
8:10 pm
You mean this one, Betty?
Kamchak ~ Thug from the Steppes
February 25th, 2013
8:10 pm
Tick…tick…tick….
Soothsayer
February 25th, 2013
8:12 pm
Uh, USA Patriot, in case you’re not aware, calling another poster a b*tch will get you a permanent holiday from the blog.
Jackie
February 25th, 2013
8:13 pm
@USA
I ain’t got nothing but hoping that you were able to take your “little blue pills” today.
I hear that’s what they offer you “at the farm.”
josef
February 25th, 2013
8:13 pm
moonbat
I’m one of those government employees. My salary there has been frozen at what it was seven years ago. My investments have been doing quite satisfactorily…
USA Patriot
February 25th, 2013
8:13 pm
Josef – Pensava a pubblicare quel link, ma non credo che qualcuno avrebbe capito. Amo quella canzone dai Wallflowers! Grazie!
TBS: Posting on weekends so PD can cry on Monday
February 25th, 2013
8:15 pm
Bro
And of course the other unspoken problem is the number of manufacturing jobs that have gone overseas during and before that same time.
Some people want to downplay it and say that it is low skilled and or union work that is not needed but never mention the engineering, finance and IT work that has also went bye bye
jhunt163
February 25th, 2013
8:15 pm
How about this one Sooth…
http://www.amazon.com/Zimbabwe-Trillion-Banknote-Uncirculated-Sequential/dp/B003XPJOZQ