Sequester Irresponsible, Unneeded
by The Milton Measure on Friday, March 8th, 2013
March 1st marks the beginning of a series of fiscal cuts that will alter the American economy. For three months, Congress and President Obama have furiously battled over a solution to the $85 billion cut due to take its course by September this year. According to the Telegraph, this set of completely arbitrary and automatic cuts will remove 2.4% of our country’s national debt of $3.6 trillion. However, this is only a small step to collect $1.2 trillion throughout the next ten years through severe budget cuts known as “the sequester.” In the coming decade, government spending, particularly that of the military, will see major budget cuts that will hinder their performance and security. For example, due to sequestration, the FDA will be forced to conduct fewer food searches, while the military will face a $550 million cut that will restrict research, emergency response systems, and military progress, according to the Colorado Springs Business Journal.
The Budget Control Act implemented the idea of a sequester to create a system so illogical and harsh that Congress would be forced to find a solution to the nation’s fiscal problems. It never did. And now, our economy, just beginning to rise from its enormous collapse and gain traction, must brace for the impact of an enormous deficit-reduction problem.
After multiple weak attempts from Congress to pass a rational solution to the looming spending cuts, President Obama criticized Congress, saying that the cuts were simply “dumb” and that “the only thing we’ve seen from Republicans so far in terms of proposals is to replace this set of arbitrary cuts with even worse arbitrary cuts.” He’s right. Congress’ job was to handle the situation and they failed. These cuts are dangerously looming over the fate of the American economy.
Wall Street seems indifferent to the cuts, but the White House believes that the sequester will be a tough obstacle to overcome. Believing that the struggle of these budget cuts “will be real,” the President advocates removing these budget cuts as soon as possible. But who doesn’t? Both sides, Democrats and Republicans, want to rid the country of these heavy cuts.
The problem lies in the power struggle in Washington. In an attempt to push each other out of the picture, Democrats and Republicans have failed to present a reasonable solution to the nation’s huge problem. The Republican-led House has rejected any proposal of higher taxes or taxed revenue, while the Senate and President Obama push towards a stronger contribution from the wealthier part of the nation in the form of taxation; Republicans want to cut down and shrink the size of government in an effort to reduce overall government spending, while Democrats insist on protecting federal programs such as Medicare and Social Security. Refusing to compromise, both sides have come to a stalemate that threatens the nation while they try to outdo the other.
Undoubtedly, these cuts will slow down the economy when they are implemented. Congress will be forced to return to the bargaining table after the cuts not only infuriate the people but also hinder the government’s ability to function. With all of these reductions, the government’s margin of error in administering its budget will be miniscule. The sequester will destabilize the government and the economy to the point where a single slip could cause us to tumble back into another recession. We are balancing on the lip of a canyon when all we need right now is solid ground. For everyone’s sake, the sequester must end here and now.
Short URL: http://miltonmeasure.org/?p=4680