Sequestration could break the U.S economy.?

[bordsilver]

In the short term perhaps. As we've all been ranting about for years the US Govt funding these (largely) unproductive jobs in the parasitic part of the economy using debt is not a good thing. It's kicking the can. This cut is a tiny part of the new debt they will accumulate anyway, so "rounding error" (as per the Rand Paul video posted above).

 

[errol43]

I don't know if it will break the US economy but I think it may well hurt the Dow Jones when Wall Street opens tomorrow night Aus time.

I predict a fall of at least 1%. on Wall Street.

What about the All Ords, rise or fall??

Regards Errol 43

 

[AngloSaxon]

Well at least there are finally some things getting done about all their troubles even if it is just some small changes...... I read it will cost 750,000 jobs in total they're saying.

750k this year. I wonder how many it will cost next year if things get worse with the other problems we have.

One of the boneheads in Washington (Nancy Pelosi maybe) claimed the sequester would see 150 million American jobs lost. Can't remember where I read that but the website I saw it on pointed out there are 130 million employed in the US.....

/facepalm

 

[House]

Well at least there are finally some things getting done about all their troubles even if it is just some small changes...... I read it will cost 750,000 jobs in total they're saying.

750k this year. I wonder how many it will cost next year if things get worse with the other problems we have.

One of the boneheads in Washington (Nancy Pelosi maybe) claimed the sequester would see 150 million American jobs lost. Can't remember where I read that but the website I saw it on pointed out there are 130 million employed in the US.....

/facepalm

http://twitchy.com/2013/02/28/maxin...ould-result-in-loss-of-over-170-million-jobs/ :lol:

 

[AngloSaxon]

750k this year. I wonder how many it will cost next year if things get worse with the other problems we have.

One of the boneheads in Washington (Nancy Pelosi maybe) claimed the sequester would see 150 million American jobs lost. Can't remember where I read that but the website I saw it on pointed out there are 130 million employed in the US.....

/facepalm

http://twitchy.com/2013/02/28/maxin...ould-result-in-loss-of-over-170-million-jobs/ :lol:

Well spotted. I got my numbers and Democrap wrong but same difference. Not the site I saw it on but the comments/retweets on that page are hilarious:

500 hundred million aircraft carriers will not be deployed because of sequester

Seriously though, given the sequester is basically a 2% cut to the rate of increase of spending, rather than a cut to existing spending, I think it's all a lot of hot air. Boehner was right yesterday to say that the tax rises Obummer wanted came in in January. They need to get working on spending less money.

Obummer is talking about teachers being fired...states employ them not the Federal govt. You think he'd know that.

 

[Mjduzane]

Well at least there are finally some things getting done about all their troubles even if it is just some small changes...... I read it will cost 750,000 jobs in total they're saying.

750k this year. I wonder how many it will cost next year if things get worse with the other problems we have.

One of the boneheads in Washington (Nancy Pelosi maybe) claimed the sequester would see 150 million American jobs lost. Can't remember where I read that but the website I saw it on pointed out there are 130 million employed in the US.....

/facepalm

Her name was Maxine Waters. Looks like the whole world is going to be doomed from this sequestration according to her

http://www.moneynews.com/TheWire/maxine-waters-170m-jobs-sequester/2013/03/01/id/492648