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Federal tax money not coming to town

Submitted by James on Sun, 02/24/2013 - 11:37pm

Cutting off everything to spite poor people. Impacts of sequestration to hit North Carolina big time, swamping any half-assed happy talk that DAG McCrory can spew.

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NC will be hit worse than most states

Submitted by James on Mon, 02/25/2013 - 8:37pm.

Because of our super-heavy reliance on military spending. I found this excellent comment at the Washington Post that pretty much sums up the state of affairs. The article suggested that the sequester was a miscalculation on Obama's part.

It's hard to see how the sequester - the "Republican" part of the deal - could be a miscalculation on the President's part. The Republicans should (and are going to) get full credit for the impact of the cuts on the nascent economic recovery.

If Republicans really cared about the deficit and the debt, they would have continued with the roughly-balanced budget that was given to George W. Bush (as Bush promised during the 2000 election). Instead, they started two wars, cut taxes for the wealthy, and passed the largest entitlement program since World War II (Medicare Part D.) while lying about how much it was going to cost. All passed by a Republican House and Senate, and signed by a Republican President, and all unpaid-for (of course).

It is true that the President has continuously made the mistake of believing the Republicans are negotiating in good faith. They aren't , won't, and haven't been at any point so far in the 21st Century. They are a demonstration of what happens when America is held hostage by people with bad intent.

Defense spending has long been on the chopping block

Submitted by Reasonably Honest on Tue, 02/26/2013 - 8:46am.

I believe that sooner or later defense spending will take a hit. And North Carolina will definitely take a hit along with it. Some members of Congress are calling for a much bigger reduction in defense spending. It is coming and each side can blame the other. But I do believe it will get here eventually.

I personally hope it will be cut a lot

Submitted by James on Tue, 02/26/2013 - 7:56pm.

North Carolina has been misguided in its longstanding attempt to become "military friendly." What a ridiculous economic strategy.

From my view, it's an adjustment that's long overdue. But in terms of DAG's happy talk about growing jobs, it's going to be a punch in the stomach. And not just here. The whole country will take a hit.

We talked about this earlier, but now it's real. Global and US markets are already seeing huge negative impacts in key sectors, and it will get a lot worse.

New job losses here in North Carolina will easily exceed several hundred thousand. All because Republicans won't raise taxes on millionaires.

Defense is the only thing

Submitted by Nunyabiz (not verified) on Tue, 02/26/2013 - 3:51pm.

Defense is the only thing that should be cut, it is the only thing of which we OVERSPEND on by a tremendous margin.
Then we need a REAL Stimulus of about 1.5 Trillion where the majority goes to infrastructure jobs, lots of very well paying ones.
If Tpublicans did not exist we would not be in this mess right now.

Amen

Submitted by James on Tue, 02/26/2013 - 7:58pm.

In addition to cutting defense, we should also be cutting a whole array of corporate subsidies.

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