Replies to post #76307 on Politics and Money

[shermann7]

There Goes The Sequester...

http://www.zerohedge.com/news/2013-03-01/there-goes-sequester

Today is the day when, if one listens to Obama whose idea it was in the first place, an unprecedented $85 billion spending cuts will be sequestered, unleashing famine, pestilence, the apocalypse and grizzly bears (as all park rangers will be dead from starvation). Which is why we applaud the administration's desire to preempt this tragic for the nation outcome, by issuing, in one day alone: February 28, $80 billion in Treasurys sending debt to (obviously) what is a new all time high $16,687,289,180,215.37.

In other words, the entire apocalyptic impact of the sequester for 2013 was offset by one day's debt issuance.

Oh, and we didn't label this post Friday humor because it rightfully falls under the Friday grotesque, surreal tragedy category.

[benzdealeror2]

The reductions would be split into three broad categories.

1) Defense spending, which includes Pentagon and defense intelligence spending, accounts for half the sequester cuts. Many of these programs will be reduced by roughly 13% over seven months.

2) Non-defense spending. This would include housing, education, or transportation programs.

3) Medicare. There will be a 2% cut in the payments to Medicare providers, such as hospitals and doctors.