Now that the federal spending cuts known as the sequester are finally
in place, isn't mayhem supposed to erupt? After all, President Barack
Obama warned of long airport lines, unpaid janitors, furloughed teachers
and hundreds of thousands of other lost jobs if the cuts went into
effect.
Obama surely knew he was exaggerating to some extent, which is why
administration officials are now backtracking and saying they never felt
the sequester would causing searing pain on Day 1, or even Day 10. But
it will still hurt the economy, they insist, if Congress doesn't do
something soon to mitigate $85 billion worth of across-the-board cuts
that most government agencies will have to bear this year.
Read more: Here's When the Sequester Will Start to Hurt - Rick Newman (usnews.com)
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