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Sequestration

 
Anonymous Coward
User ID: 34452298
United States
02/20/2013 01:55 PM
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Sequestration
What is this sequestration that is all over the news?
Anonymous Coward
User ID: 34353211
United States
02/20/2013 03:47 PM
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Re: Sequestration
Ok nobody knows!
Anonymous Coward
User ID: 26302253
United Kingdom
02/20/2013 03:47 PM
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Re: Sequestration
Spending cuts are bad, m'kay?
Anonymous Coward
User ID: 9636450
United States
02/20/2013 03:59 PM
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Re: Sequestration
"se·ques·tra·tion
Noun

The action of taking legal possession of assets until a debt has been paid or other claims have been met.
The action of taking forcible possession of something; confiscation.

Synonyms
seizure"


In other words...

Obama is going to Sequester, confiscate, seize control of... ALL U.S. financial assets until the 16 Trillon National debt, "has been paid".. which we all know will never actually be paid, ever...

So in other words...

He is about to sieze Absolute Power over the financial sector, and the MSM is going to let him get away with doing it... but promoting him as the grande savior, which means he'll then have the support of the so-called "Low Information Voters" out there....

In other words.

All the stupid IDIOTS will support him for it, while at the same time they're all losing their jobs over it!
chrono117

User ID: 3500867
United States
02/20/2013 04:43 PM

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Re: Sequestration
Last year, Congress gave itself an ultimatum to fix the deficit. If they didn't work out a plan by the end of 2012, automatic spending cuts - the Sequestration - would go into effect. It was the biggest part of the Fiscal Cliff.

Congress failed, but they passed some sort of delaying tactic that shifted the damage from January 2013 to later in the year. Now it's coming due.
Anonymous Coward
User ID: 1579668
United States
02/20/2013 04:51 PM
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Re: Sequestration
It's about 120 Billion in automatic spending cuts, which would essentially reduce government spending to 2007 levels. While it may be temporarily painful for some industries (military contractors), we will survive it, and in my opinion it is needed. BTW - it was Obama and the Democrats who put sequestration on the table as a tactic to manipulate the Republicans into accepting his tax increase proposals. Now he is screaming bloody murder it is all their fault - politics at it's worst.

Another fact that no-one is talking about - Obama has pumped about 100 billion into subsidizing failed green energy projects. We essentially threw away 100 billion as political payback for pet projects of wealthy donors and this is being largely ignored by the media. If we can throw away 100 billion on solyndra, etc. We can't we cut 120 Billion out of the budget.

I say let sequestration happen!