Sequestration, Fiscal Cliff -What's the Deal?
I don't completely understand this, but I think the ball is in Prez. Obama's court. I mean I think he could make the Republican house members sweat and get a good deal.
So are they going to delay it or work it out? And what's so bad about taking away the Bush tax cuts anyway? Or is it the Defense budget cuts that would hurt jobs in California- causing a new recession in San Diego?
Inquiring minds want to know. Really. I get this was a special poison pill that allowed the debt limit to get raised. And that the Republicans refused to play ball and allow either the Bush tax cuts to go away or any tax on the rich in the meantime. And Obama said it's not going to happen, that some compromise or delay will take place....
But what if it did happen? What's so bad about lowering Federal discretionary spending 10% and putting taxes back where they were? I'm not in love with making more bombs...am I being naive??? Please tell me your thoughts and share your knowledge..