I doubt it will happen. There will probably be another last minute deal that kicks the can down the road and we'll do it all over again in 2-3 months.

If it does actually happen it's not as severe as the media is making it out to be.

 

I agree for the most part except I think they want it to happen, maybe to just see what if any effect it will have.

 

My guess is that on 2/28 at 11:45PM, they will postpone the sequestration for another 3 months and the market will love the news.

If I'm wrong, and the sequestration happens, then Obama will blame the Republicans, and the Republicans wil blame Obama. Obama will make a speech, then he'll go golfing. and Boehner will make a speech, then start crying.

Seriously, I read that 800,000 people will be out of work. I'm assuming, these people will apply for unemployment benefits, so how much money will the government save? This could get ugly.

 

I was in a class last week with a bunch of federal employees. They were all up in arms about it. What they had been told was that they probably would not be able to get unemployment because many if not most of them would just have hours cut.

 

Seriously, I read that 800,000 people will be out of work. I'm assuming, these people will apply for unemployment benefits, so how much money will the government save? This could get ugly.

Some will be out of work, others will just take a severe pay cut. Depending on how it is implemented, many will not be able to apply for unemployment.

The way that I have read it, the amount that has to be reduced is each year, and since there is only half of the fiscal year left, all of that money (the entire year's worth) will come out in 6 months.

It will have an impact for sure, to what extent, I suppose we'll see soon enough... or they'll kick the can again.

 

Not nearly as much drama about it now as there was when everyone was blathering about "the fiscal cliff," so I give it 60:40 that the congress critters will just sit on their hands and let it happen, or alternately extend the 'do nothing and let the deficit get extra-bigger' plan another few months.

Either way we're screwed, they're both awful options. Kinda like the election. The good options aren't really even talked about, just the two **** options the Republicrats and Democans are pushing. Go figure. :zombie

 

Some of the 800,000 will be furloughed and loose about 20% or so of their pay. Less pay = less buying power.

 

If they get furloughed they get a 30 day notice that it is coming.it is not like they get sent home on the 1st

 

Yeah, I'm not for any side honestly. I detest all career politicians. I'm just wondering if they're aware of how worthless they seem to the entire nation. Our government, if not before, is just going to be perceived as a huge joke very soon.

I can't help but think that things are going to soon cascade into a financial mess we are all going to feel.

 

Some of the 800,000 will be furloughed and loose about 20% or so of their pay. Less pay = less buying power.

The furlough numbers will be higher than that. I think that number is people that will actually not get paid at all, such as government contractors.

 

Gov is like one of those dysfunctional folks on the hoarder show. They have a real problem and they don't want to address it. GREED at the expense of the People. It sucks when you have children and fear what the future holds for them.
In my younger days we did not have camera lights - when those things were stabbed into the sidewalks,
and when our (small) county school superintendent got an annual salary, sans bonus and gold plated benefits, of 262 thousand dollars per year,
I knew we were in for some rough times.

And here they come. Sad times, really.
Its like two americas - citizens and government. With citizens working to support lavish government lifestyles. With no recourse. Letter writing and electronic voting do nothing.

 

The amount of cuts with the Sequestration is actually a very small part of the budget. I think it is a good first step at starving the beast.

Sure the market will not like it now . . . . but it is what needs to be done.

 

Today Rick Santelli mentioned that the sequestration amount for a entire year is just one months worth of the Feds bond buying.

I would rather see sequestration happen than let Obama get his way and accelerate our spiral to nowhere. Obama and his regime are far more dangerous to America than the entire Cold War.

Red

 

we should have went over the cliff and let the thing happen straight through. we need to cut defense spending as well as many other things. sad to say but its like base closings. everyone says we need to cut spending but when it comes to bases being closed in ones state its oh no we cant have that. lol

 

Sequestration has been trumped up. It is nothing but political pomposity.

 

Kicking the can again... will bring us closer to a financial melt-down than the sequestration will.

I've seen numbers like 5% cuts (7% for DOD) spread OVER 10 years as the true impact of this one, piddly, political-propaganda "cut". It has also been pointed out that Obama gets to choose and approve where those cuts are made... so when he makes those dire predictions realize he could choose to spread out the cuts that pay for coffee breaks at the Commerce Dept, EPA, and a couple of Congressional Junkets (or raises). Or reduce their paper budget, shrink the number of vacation or personal days. His issue with the sequester that he previously insisted on... is that he will be responsible for choosing where the cuts in are made and that's just not a glamourous enough job for him; he's too important to do that. (Hence, Jacob Lew?)

I'd worry more about the Fed cutting back on buying Treasury bonds, really.

Yes, I know - for the gov, the sky is falling and they're actually making it worse than it has to be (like not sending Navy boats out on rotation)... but it's political theater: to make their POINT. Like some spoiled brat who isn't getting his way... he's having a temper tantrum and hitting out at anyone, randomly.

 

Gas should hit $5.00+ this year according to experts.
The cost of living is increasing. (You know this if you buy groceries).

Entitlments are not keeping up.

Poor folks are gonna start going hungry. Then those people will start looting and stealing what the gubbment fails to "Give" them. All the while blaming evil white folks....but never Obama and Progressives.

That's when things will get rough...imo

Sequestration is just the latest diversionary political jargon tactic like others already said.

 

Government spending is why the cost of living is increasing. This falls disproportionately on the poor and the elderly. The government doesn't care about the elderly. Wait until Obamacare starts up, the death panels will take care of any outcry from the elderly. The poor will just get more money we can't afford to spend, which will make the government create more credit and money, which will lead to higher prices. At least until people wise up and buy anything, just to get rid of their worthless cash. That's when the crisis will hit.

 

1) they want everyone scared, so it gets supported in the wrong way. Pushed through. So No I don't think the republicans will or should give. Let it happen, then we see who was right.Sometimes it has got to get worse before better. We all screwed already so what a few more years....Dems fail..there wont be another in office for a very long time .
After 6-8 months they will have to set it right. And they only they can do at that point is cut their own pay...citizens have no more cash to give in taxes..people will stop paying, risk feeding the kids and tax aversion so they can feed them.. Programs cut or gone...nothing left but to feed on but the politicians. Seems to me King Louie ended this way too...VIVE La FRANCE!

2) doubt it makes much difference other than to those workers, who wont be taking two hour lunches but forces to brown bag it instead ( actually working a bit more..instead of loafing...it is the govt we are talking about)

3) if the mailman doesn't deliver...i cant pay the dang bills, and then maybe I can sue the govt for not delivering...lol

4)Perhaps feds, soldiers and cops wont fight when they don't get paid, but citizens will...it will be open season on the inner city cruds, looters.

One thing for certain, its going to get interesting, and definitely Creative.

 

1)
2) doubt it makes much difference other than to those workers, who wont be taking two hour lunches but forces to brown bag it instead ( actually working a bit more..instead of loafing...it is the govt we are talking about)

Your name almost fits you...intead of ILLUSIONARY, you're DELUSIONARY.

I have almost 30 years of proud service under my belt and except for the occassional farewell or retirement luncheon or Lunch&Learn, I ain't NEVER seen a 2-hour lunch - not even from the staff that sits in the head-shed, thinking they are demi-gods. Loaf? Damn...I wish I had time! I work 9-hour days with a 30 minute lunch. Yep...I got time to loaf.

Like everyone else, .gov is doing more with less, especially in regards to replacing personnel. Ever hear "An Army Of One"??? To those of us who support, it seems as if we're actually down-sizing to ONE.

Most of us in my shop don't brown-bag it either, we buy groceries and stock our shared fridge or store canned goods in our work areas. Ain't nobody here having $18 lunchs & 2 beers. Hell, my kid works at Lowes' and has more down-time!

Speak what you know, ill-informed taxpayer, it will avoid you looking so completely ignorant in the future.

 

This sequestration is only going to cut $80 billion. The US GDP is over $15 trillion and government spending is approximately $3.5 trillion. As a percentage of GDP this is 0.5%, that's not much. As a percentage of government spending, the cuts are only 2.3%. This is a good start but alot more cutting needs to be done. The problem with this, is that the stupid morons in government couldn't figure out an easier way to save the $80 billion so they made it so it would hurt the republicans and democrats. They are real geniuses. Instead of actually cutting $80 billion in wasted areas, they are cutting where it hurts.

In the long run, it's the right thing to do, but it's going to be painful in the short run and I feel really bad for the people who will be affected by this. I think with less money, the Pentagon can adjust and get better. Take a look at the US Postal System. They are losing money hand and fist, but UPS and Federal Express, aren't. Why is that? The government is a bloated, fat pig, and any fool should be able to cut $80 billion in their spending, without causing that much pain.

 

Because the USPS basically pays for Cadillac insurance and the pension system for ex-postal workers is dragging down the whole system. They also pay too much in labor costs. This is what happens when you expect a government to run like a business. It can't happen, there's no profit and loss indicator to tell them if they're doing a good job or not.

 

It is, as Obama said, time to 'eat our peas.'

Let it happen.

Welcome to the Obama Nation.

 

Inflation is being caused by the increasing consumption of China, India and third world countries. If you cannot admit to the cause then you cannot fix or compensate for the problem.

 

The 800,000 figure is civil servants. If sequestration goes through, they will keep their jobs but have an unpaid furlough day each week.

The figure that I don't see reported is the number of government contractors that will LOSE their jobs. I suspect the number will be in the 10s of thousands.

Those laid off contractors will be applying for unemployment and tightening their belts. They will be looking for jobs in an economy where no one is hiring. Don't forget that layoffs of contractors will spiral down to local businesses, etc.

 

i thought we wanted smaller gov? those contractors cost the gov more then the civil servants.

 

I wish the government would just go bankrupt. It's beyond repair.

 

The Constitution is dead, the government is out of control and citizens are too fat, dumb and divided to effectively regain any control, so all I can say is...

Burn, baby, burn, let the mufferhumper burn - maybe we can rebuild something of value from the ashes.

Yeah, it's not going to be pretty or painless...but I no longer see any other realistic result.

 

I frankly cannot see this happening. The way the sequestration is set up, it will cut across the board, vital programs as well as non-vital ones. The public won't like that. It will also be handing Obama an excuse that will last for the next four years: Namely, everytime the Republicans complain about how the economy isn't working, Obama can turn around and say "My job... is to fix the economy. I can't... fix the economy... if the Republicans keep breaking it through acts like the sequestration". It would take EXTRAORDINARY political stupidity and naivete on the part of the Republicans to give Obama a stick he can beat them with. Yes, they've done it before; but have they learned nothing from that?

 

I frankly cannot see this happening. The way the sequestration is set up, it will cut across the board, vital programs as well as non-vital ones.

What is an example of a vital program that will be impacted?

 

A <10% cut to the military and welfare budgets; it's the end of the world!