Threat of sequestration looms as deadline approaches

(CBS News) WASHINGTON - We are now six days from the deadline for Congress and the White House to reach a deal to avoid across-the-board cuts that would total $85 billion and be divided equally between defense and domestic programs. The Congressional Budget Office estimates the cuts would put 750,000 people out of work. Both Democrats and Republicans dug in and showing little sign of movement.

In one of the most detailed warnings on sequestration, the Federal Aviation Administration says that starting in April, air travelers should get ready for delays.

If budget cuts go into effect, 47,000 workers -- including air traffic controllers -- would be furloughed one day every two weeks. And 100 air traffic towers would close at small city airports.

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The reductions might mean longer lines, fewer flights, and fewer customers for Joe Mellace, who owns a deli across from Caldwell Airport in Essex County, New Jersey.

"I do get a lot of business here and taking this thing away -- I just feel like this land would just be wasted," he said.

Furloughs are also coming for 800,000 civilian employees of the Defense Department. Across the country, towns with military bases are bracing for the loss of thousands of jobs, and the tens of millions of dollars those jobs bring to the local economy.

The president is using the potential loss of jobs to push congressional Republicans into a deal that would lower the deficit by closing tax loopholes on higher-income Americans.

"Are they seriously prepared to inflict more pain on the middle-class because they refuse to ask anything more of those at the very top?" asked President Obama.

Republicans say they will not deal on the sequester until the president proposes more spending cuts.

"So the question is: 'Why won't he work with us?'" said GOP Sen. John Hoeven of North Dakota. "And the answer, quite simply, is because he wants higher taxes."

Both sides want to blame sequestration on each other and now there is no apparent movement toward compromise. The president has asked to speak to congressional Republicans, but no serious talks or negotiations have been scheduled.

[cornflakesdisease]

Love the CBS world news TV spot tonight about all the HIH funding for great cures that will be cut. Boo Hoo! So when a great cure is found by taxer payer funding to this organization, big pharma comes in at the end and markets a new high profit drug.

Cut, cut, cut. Crash the system and end this nightmare.

[crfugit]

It's interesting to me that both political parties actually have valid arguments. Sometimes I think the Super Committee would be better off putting all their marbles in one jar and having the option of just pointing a finger in one direction if something goes wrong when all is said and done, otherwise, how is anything ever suppose to get accomplished? When asked who is responsible, you just see a circle of pointed fingers. While it is obvious that political gains are going to drive most decisions over fiscal policy, accountability repercussions should also be something politicians have to consider.
If you want to check out the article I just posted on the sequester, here's the link: http://calypsofugit.blogspot.com/2013/02/sequestration-complicated-issue-or.html

[GOP-R--Con-Men]

Corporations, big oil, big pharma and the super rich have done extremely well since Republican President Reagan opened the treasury to them. Yet those who have benefited the most from America want to contribute the least to her. And the GOP = Greedy Obstinate Predators makes sure the 99 percent continue to live off crumbs while they feast.

Remember republicans will not allow corporations, big oil and the super rich to lose any of their subsidies or tax loop holes. Some are but not limited to...the 4 billion dollars a year congress gives big oil in subsidies. Does anybody think big oil needs or deserves 4 billion dollars a year in taxpayer money when they are the most profitable business in the world?

Republicans refuse to eliminate tax loop holes for corporations while gives them taxpayer money for moving jobs overseas and creating jobs over there. Does this make sense to any rational person?

Those are but a few examples of why the treasury is not being replenished but being drained by republicans and their quid pro quo contributors.

[Donnie_G]

Asking who is responsible for the sequester simply shows just how dysfunctional our federal government has become. There's plenty of blame to go around, and no one side can lay claim to having a moral or ethical advantage over the other. The bottom line is that both sides in this dispute agreed to the terms of the sequester specifically because it would be equally as painful for them both, and that's a good thing. No pain no gain! If it takes swallowing this bitter pill to undo the current state of gridlock in government and bring both sides back to a middle ground of compromise, then so be it. Let the sequester happen.

[chipmonk13]

The president lies. The sequester is a 2% cut in growth over last years spending. Only defense takes a real hit with 50% of the total sequester amount---but again it is not a cut over last year ----justless growth in this fiscal year. A Washington drama for the back home voters. Go sequester---we need budgetary control----harry ried.

[patnmike11]

The working people who actual keep this country going are the ones who will be punish. Civil Service Workers will have their pay reduce by 20%, and went this happens
private sector will feel pinch and they too will start to lay off people. Congress, Senators, House of Representatives and the President of the United States will not have their pay reduced by 20% and neither welfare recipients . If their pay was involved, I bet you this would have been solved alone time ago.

[BCSBUDDY]

Ever wonder why when budget cuts come around that they ALWAYS say that the cuts will occure in critical areas? It is always- law enforcement, teachers, firemen, air traffic control, food inspectors and so forth. I have been an executive for a major food store for many years and we have had tough times many times. When we need to cut we do so but we cut the FAT, not essential elements. I assure you that there are MANY NON-ESSENTIAL cuts that could be made but our government uses scare tactics to up the ante. Trust me, I, like many other business leaders could find the necessary cuts without the elimination of essential services. Case in point, how much do we give to the worthless United Nations each year? Ever hear about cutting this?????

[GOP-R--Con-Men]

Republicans hate govenment to the point they sabotage it whenever possible. They intentionally run up deficits spending on things not productive for America. They do this to justify saying their are no funds for social programs. They hate social programs. They do not believe the government should help individuals and they do not want government to work for individuals. This is another reason they sabotage it every chance they get.

The US post office is a prime example of republicans sabotaging government. They passed a law requiring the USPS to pre-fund employees retirement 75 years in advance in a 10 year window. No other entity in the entire country is required to do this except the USPS. This is what's causing the USPS to be cash strapped. Absent that the USPS would be fine. The bogus fiscal cliff crisis to the current sequester. There are more examples of republican sabotage, you get the picture.

[BCSBUDDY]

Give me bill number where the USPS is required to fund 75 years of retirement in 10 years. You need to get your facts straight before you start to spew your liberal garbage. I will await your response with the bill number or legislative directive.

[GOP-R--Con-Men]

On December 20, 2006, the Postal Accountability and Enhancement Act (PAEA, P.L. 109-435) was
enacted into law and was the first broad revision of the 1970 statute that replaced the U.S. Post Office
with the U.S. Postal Service (USPS), a self-supporting, independent agency of the Executive Branch.1
Among other things, PAEA required the USPS to pre-fund their future retiree health benefits (provided
through the Federal Employees Health Benefits Program) by establishing the Postal Service Retiree
Health Benefits Fund (PSRHBF). The law established set payments to the fund from 2007 to 2016 of
between $5.4 billion to $5.7 billion annually.
-------------------------------------------------------------------

Ok teabagger, let's see if you can handle the facts?

[chipmonk13]

When the USPS started talking about cuts and raising prices they had 160,000 people on disability. Was someone afraid of the union? How many of the disabled were in the 200,000 laid off? Shame on the USPS.

[wfw3536]

Funny, the national media or Obama doesn't tell us the 85 billion to be cut this year, is less than what we gave AIG or that we just gave the Sandy storm victims 40 some billions, and did we hear the sky was falling. The cuts represents 2.4% of a 3.7 trillion dollar deficit. We do not hear the sky is falling as each year as we spend 1 trillion dollars of borrowed money or how we are heading to bankruptcy. How sad that Obama has chosen to scare folks.

[patnmike11]

The working people who actual keep this country going are the ones who will be punish. Civil Service Workers will have their pay reduce by 20%, and went this happens
private sector will feel pinch and they too will start to lay off people. Congress, Senators, House of Representatives and the President of the United States will not have their pay reduced by 20% and neither welfare recipients . If their pay was involved, I bet you this would have been solved alone time ago.

[scalini1]

It doesn't matter. In a 7 trillion dollar budget 85 billion is just an accounting error. More democrat fear-mongering, aided by the liberal media, to continue running at the treasury like a bunch of frat-boys running to a swimming pool.

[dj_chi]

Then why are so many republicans saying the same thing?!