“It’s going to happen,” said Congressman Jim Moran, a Democrat representing our district in
Lockheed is based in
Hundreds of Fil-Ams are employed by the federal government; thousands more work for companies or own enterprises that rely heavily on it, especially the military. The Philippine American Chamber of Commerce in
Still, Peter Singer of from the Brookings Institute, writing for Time, said the overall impact of the sequestration would not change the balance of power or
GOP congressmen have signaled they would be ready to accept deep cuts in the defense budget if only to force Democrats to accept cuts on popular social programs as well.
The whole law was premised on shared pain, that slashing defense and domestic programs would be too painful for Republicans and Democrats alike that they would be forced to compromise. If the sequestration does push through, it will show pain is not as potent a stimulus as they thought it would be.
President Obama telegraphed his reluctance to touch entitlements, and appeared bent on pushing the GOP to accept more revenue-raising measures like plugging tax loopholes. Oklahoma Rep. James Lankford, chairman of the Republican Policy Committee, said after the President’s address that there’s now a greater chance the sequestration will happen.
There is simply no bipartisan solution out there.
Now federal agencies, including the Pentagon, are busy preparing for it. Managers all across the vast federal bureaucracy have been briefing employees about furloughs, contingency plans ready.
With Congress on vacation until next week, many believe there won’t be time to stop sequestration. If it’s inevitable, I guess it’s imperative for Congress to rationalize sequestration, to control the descent so it doesn’t crash the economy.
Sequestration, Stinger said, “would be a terribly stupid thing to do.”
“It not only wouldn’t solve the core problems driving the
But what’s more disconcerting is the realization this is just the first in a series of events – raising the debt ceiling and crafting the national budget have to be tackled in the next two months. It's going to be difficult and the circus just doesn’t seem to want to leave DC.