5 things the federal sequester won't touch
So far, the Obama administration can't seem to give a concrete example of any changes taking place after March 1.
March 1 is officially the starting date for some $85 billion in federal budget cuts to kick in unless Democrats and Republicans can negotiate a way out. But talks are stalled, leading the president to plan a cross-country road trip of sorts to try to shame Republicans into action, Politico reports.
Republicans aren't doing much right now, telling reporters that they passed a bill in the House to replace the cuts, Politico reports. But that bill has expired because it was passed last Congress. In fact, some Republicans are quite happy with the sequester as is.
Congress is taking the week off for its Presidents Day recess.
But for all the doom-and-gloom talk about how the country will suffer under the sequester, many of the federal services people are accustomed to will remain in place, Reuters reports. In fact, senior members of the Obama administration couldn't give the news service concrete examples of any changes taking place after March 1.
Here are five government programs that will largely remain untouched:
Social Security. Checks will still arrive on time at the beginning of every month. Disability payments will continue as well.
Medicare. The elderly and the disabled will still see Medicare benefits. There will not be any change to the Part D low-income premium and cost-sharing subsidies, either.
Military readiness. The Defense Department can shift funds around to make sure that combat and military readiness capabilities remain strong. Soldiers will still get paid.
Medicaid and Veterans Affairs compensation. No change, according to the AARP.
OK, so what could get hit then? Lawmakers say that across-the-board cuts will eventually take place between March 1 and Sept. 30, which is when the federal fiscal year ends. According to Reuters, here are the main areas that could see cuts:
Federal payroll. The government will probably give affected employees 30-day warnings of impending furloughs. But those employees would probably only see a maximum of 22 days in furlough during those seven months.
Government contracts. The sequester could limit the government's ability to green-light new construction and defense contracts.
Medical research. Labs that need federal money to operate may have to cut back on spending.
I think Obama is an idiot................. thumb up
I think Obama is a genius,,,,,,,,,,,,,.thumb down
With all of the rhetoric from members of Congress . . . it made me go back to my US Government text book to look at the roles of the different branches of government . . .
Legislative: Headed by Congress, which includes the House of Representatives and the Senate. The main task of these two bodies is to make the laws. Its powers include passing laws, originating spending bills (House), impeaching officials (Senate), and approving treaties (Senate).
The next Congressman who gets on TV to say they are waiting for the Pres to take leadership on any issue should immediately be fired. Are our Congressman not elected "Leaders"? Our President is not a Congressman!!! Dems & Repubs need to Sequester themselves in a room and do their jobs . . . i.e. get laws to the President to sign, not vice versa. If you need to wait on the Pres to to create laws then why on earth are we paying you?
Oh no - Not another Obama Blame & Shame tour.
Obama has sunk to a new low now using scare tactics to try to convince voters to allow him to continue his gluttonous spending unchecked.
Even if the sequester takes place, Obama is on track to spend more this year than last, and will continue to borrow over .60 cents on every dollar spent by the government. As the article states "In fact, senior members of the Obama administration couldn't give the news service concrete examples of any changes taking place after March 1."
(Reminder - When voting against the debt ceiling increase in 2006, then Sen. Obama said: “America has a debt problem and a failure of leadership.” On Jul 3, 2008, he further said that another increase in the debt ceiling was “irresponsible and unpatriotic.”) So.... according to Obama's own analysis, he himself is “irresponsible and unpatriotic.”
WTF - I seriously can't understand why anyone still believes a word this shameless liar says.
No- can't be
Don't you remember he was going to be the most transparent , truthful president EVER ?
ONLY doubled since day one of his reign !
The president is on record stating that there would be no way to wriggle out of it. Speaker Boehner is on record as saying he got "98%" of what he wanted.They all agreed to the Sequestration that the Supercolliding Supercommittee came up with, so BOTH Parties,Congress AND the President, are responsible for it. It's pointless to bicker any more about who OWNS it. We all do. Now DO something.
Its all a Obama manufacture crisis and I for one hope it happens,you see Obama signed this into action back in 2011 and now hes tyring to blame everyone but his Obama self for this mess!
Cut The Budget, but try making one first,cut the military no wya theres a war on and the gays would lose their jobs, sequester won't effect anyone but the ones with low IQ's aka Obama voters and the media types!
Obama talks and all we hear is blah blah LIE,blah,LIE,Lie,Lie.
Excuse me I have a skeet shooting lesson!
One condom and Obama wouldn't be in office!!
Copyright © 2013 Microsoft. All rights reserved.
Quotes are real-time for NASDAQ, NYSE and AMEX. See delay times for other exchanges.
Fundamental company data and historical chart data provided by Thomson Reuters (click for restrictions). Real-time quotes provided by BATS Exchange. Real-time index quotes and delayed quotes supplied by Interactive Data Real-Time Services. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by SIX Financial Information.
Tired of constantly dying batteries, she came up with a device that could revolutionize energy storage -- and won $50,000 from Intel.
- Detroit in hot water over proposal to sell art
- Sears spirals toward oblivion
- Why aren't heads rolling at the IRS?
- Do we pay attention to roads and bridges now?
- Yahoo may be going after Hulu
- Apple's first computer could fetch $450,000
- AT&T adds sneaky fee onto its wireless bills
- Soaring ER use adds more pain to health costs
- Netflix gets 'Arrested Development' stars cheap
[BRIEFING.COM] Stocks entered the weekend on a mixed note as the S&P 500 shed 0.1% while the Dow ended with a gain of 0.1%.
The major averages began the day on a lower note as nine of ten sectors saw losses of more than 0.5%.
The consumer staples sector was the lone exception as the group spent the entire day in positive territory thanks to the relative strength of Dow component Procter & Gamble (PG 81.89, +3.19). The second-largest staple stock advanced ... More
More Market News
Try as the bears might, they couldn't break U.S. stocks. But investors still face frothy prices and considerable headwinds.