Off the Cliff: Sequestration

The story of Sequestration begin two years ago when a bi-partisan committee of U.S. Senators and Congressman assembled to form the "Super Committee" to figure out how to cut our way out of this going on $17 trillion deficit. A lot of ideas came out of that super committee, none of which the President wanted to back making the joint venture a failure. Out of all this an idea was put on the table, an idea so bad, so destructive it was thought to force legislators into a deal.  That idea was sequestration.

Congressman Steven Palazzo says, "You gotta go back to August of 2011. No one voted for the sequestration. That was supposed to be there to force the super committee to sit down and come up with 1.2 trillion in real cuts"

And on down the road to December 31, 2012, Congresswoman Pelosi had this to say in regards to the Fiscal Cliff or Sequestration by another name. "I don't even think they're kicking the can down the road. I think they're nudging the potato across the table with their nose"

However, Senator Roger Wicker says at least one positive for the people came out of negotiations in the days following the new year. "We were able to do a fairly good job on keeping the tax rates where they were for most Americans. Now we have to deal with the sequestration"

Palazzo says, "Sequestration means we're gonna have 1.2 trillion dollars in cuts over the next decade that goes into effect on March 11st.

In response to the matter of the Fiscal Cliff, Senator Wicker had this say,

"we postponed the sequestration, so that was put off from January 1st to March 1st"

So in two years, Congress and the President preserved tax cuts that were already in place and haven't decided to cut anything, meaning nothing has been done to cut federal spending. Senator Wicker says,

"There's no question that the sequestration was a fallback position that we hoped would never happen."

In the months since January 1st, we've had the blame game. This coming from President Obama,

"In just 4 days Congress is poised to allow a series of arbitrary, automatic budget cuts to kick in". Then countered by Senator Wicker saying, "It's hard to score a speech. It's nice to hear the president about solutions, but we're going to have to have concrete proposals and I think it's time for him to come up with something".

So we've traced the sequester's origin, discovered there are no spending cuts, and the us is going on $17 trillion in the hole...