Despite Warnings On U.S. Defense Cuts, Little Action To Stop Them -- Reuters
(Reuters) - U.S. defense officials and their allies in Congress did their best on Wednesday to create a sense of crisis about steep impending budget cuts, but their warnings failed to produce any visible result.
Instead, partisan divisions hardened over how to avoid the automatic spending reductions set for March 1, with Democrats and Republicans offering solutions that appeared irreconcilable and trading accusations designed to shift the blame across the aisle.
If Congress fails to act by March 1, across-the-board spending cuts of $85 billion over seven months will hit federal agencies, split evenly between military and domestic programs. Defense contractors and economists are predicting hundreds of thousands of jobs could be lost within a matter of months.
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My Comment: I still believe that Congress will pass a law to delay sequestration .... but there is growing support among many Congressional Republicans to accept sequestration as a necessary step to put America's fiscal and debt mess in order. As a result of this growing sentiment among many in Congress .... sequestration is no longer an if proposition .... but a when.