The Obama team’s love of memes continues.
test reblogged from politico
No Deal: Following a meeting between President Obama and top congressional leaders, it looks like there’s next to no chance a so-called “sequestration” deal will be reached.
With both sides refusing to budge on how to avoid $85 billion in automatic spending cuts, it looks like the broad across-the-board cutbacks that were constructed to be so horrendous that no one would let them happen, will happen.
House Speaker Boehner:
“Let’s make it clear the president got his tax hike on January 1. The discussion about revenue, in my view, is over. It’s about taking on the spending problem in Washington.”
“It’s unnecessary at a time when too many Americans are looking for work. It’s inexcusable.”
Read more on the failed Hail Mary meeting here.
Photo: Charles Dharapak / Associated Press
$3.2 billion: That’s how much California stands to lose should sequestration cuts take hold Friday. Amid warnings of slowed economic growth, cutbacks in meals for seniors and airport security, the brunt of the effects will be felt by specific sectors.
San Diego, with a defense-heavy economy, as well as those dependent on federal programs have the most to lose in California. And as the cuts loom ever closer, the debate on whether they’re a net positive continues.
The arguments from either side:
“We need stimulus, not premature austerity,” Gov. Jerry Brownsaid during a break at the National Governors Assn. meeting in Washington.
Rep. John Campbell (R-Irvine) contends that critics of the cuts are exaggerating the effects.
“If we can’t do this, what can we do” to reduce Washington’s red ink, he asked. “We ought to be panicked about the day when people won’t buy our debt anymore because we borrowed too much.”