"The Fiscal Cliff"

[Anonymous]

Anonymous wrote:To paraphrase another DCUMer from months ago:

Dear Government/Government Contractors,

Welcome to the recession. Other companies have been doing massive layoffs and budget cuts since 2008.

Sincerely,
The rest of us

Government contractors have been laying off and cutting budgets just as long. The new layoffs from big companies like Boeing and Lockheed are about the 2nd or 3rd round of cuts in recent years. The small company I work for has been hemmoraging contracts for years.

Now government workers, that's a bit different. While they've had to deal with hiring freezes for a few years, now they're going to have to worry about RIFs.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What is it?

A nickname for a budget procedure called "sequestration." Congress resolved the debt ceiling debate by putting the federal budget on a course for automatic, across-the-board cuts to the entire federal budget. The super committee was supposed to come up with a plan that would make cuts in a more targeted fashion that would preserve priority areas, but they could not agree. So, starting on January 1 the federal government will be cut by just shy of 10% - across-the-board - unless Congress and the President can rescind the law and come to some other agreement.

Does this mean 10% cut for every agency?

Give or take, yes. It's not entirely clear yet. Probably will be less (like 8.2 or 9.4) but no one really knows exactly. As I tend to be pessimistic, I always plan for the worst so I am figuring on about 10.

But this doesn't apply to the ones that are self-funded??

Good point. I had not thought of those. I do not know the answer to that question.

[Anonymous]

I think military personnel are not and that's a lot of the defense budget. So the defense cut will be on the rest if the defense budget....contractors will get hit hard!

[Anonymous]

Come on smaller government and what not, what did you think they were talking about?

[Anonymous]

Anonymous wrote:Come on smaller government and what not, what did you think they were talking about?

Republicans want smaller government without having to cut defense or tax loopholes for big corporation. They want the spending savings to come out of entitlement programs and "unimportant" agencies like science agencies (NASA, NIH, Energy, EPA, FDA, etc), social service agencies (Soc Sec, HHS, etc).

Democrats want smaller government by sacrificing agencies that they feel are cash cows including defense, Treasury, and tax loopholes for the rich and corporations.

This is the problem. Everyone knows they want smaller government, but it's just agreeing where to cut the money.

[Anonymous]

Republicans have never said they want to cut tax loopholes for big corporations and dems really do not want to cut government.

[Anonymous]

Anonymous wrote:To paraphrase another DCUMer from months ago:

Dear Government/Government Contractors,

Welcome to the recession. Other companies have been doing massive layoffs and budget cuts since 2008.

Sincerely,
The rest of us

Dear "rest of us",

I am one of you. I have no family members who make money as government employees or contractors. What's more, one of my biggest personal priorities with the budget is big defense cuts. I think it is the most over-padded part of our entire budget.

But I understand that if we lay off a bunch of people in this sector, for the simple reason that the two parties cannot be grownups and compromise, then it is going to affect the entire economy. If you are in retail, restaurants, construction, financial services, legal... it doesn't matter. Consumption will go down and your life gets a little bit tougher.

We can do better deficit reduction with a long term plan, and everyone on the Hill knows it. What they are doing is playing a game of chicken and that's just stupidity.

[Anonymous]

I have 0 faith that a Republican administration would have tackled waste, fraud, or loopholes.

Ever. Period.

[Anonymous]

I have zero faith that a budget could ever be balanced on fixing waste , fraud, and loopholes.

[Anonymous]

The last dollar that comes off the last government printing press is going to go into the pocket of a defense contractor. I'm not particularly worried. We'll see Boehner make a deal.

[Anonymous]

I have zero faith that this administration will do anything besides tax and spend.

[Anonymous]

Anonymous wrote:I have zero faith that this administration will do anything besides tax and spend.

Bush taxed, spent, and got us into a war. I say 2 out of 3 is progress.

[Anonymous]

Anonymous wrote:

Anonymous wrote:To paraphrase another DCUMer from months ago:

Dear Government/Government Contractors,

Welcome to the recession. Other companies have been doing massive layoffs and budget cuts since 2008.

Sincerely,
The rest of us

Dear "rest of us",

I am one of you. I have no family members who make money as government employees or contractors. What's more, one of my biggest personal priorities with the budget is big defense cuts. I think it is the most over-padded part of our entire budget.

But I understand that if we lay off a bunch of people in this sector, for the simple reason that the two parties cannot be grownups and compromise, then it is going to affect the entire economy. If you are in retail, restaurants, construction, financial services, legal... it doesn't matter. Consumption will go down and your life gets a little bit tougher.

We can do better deficit reduction with a long term plan, and everyone on the Hill knows it. What they are doing is playing a game of chicken and that's just stupidity.

Finally. a voice of reason!

[Anonymous]

go off the cliff, get back to clinton rates for everyone.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I have zero faith that this administration will do anything besides tax and spend.

Bush taxed, spent, and got us into a war. I say 2 out of 3 is progress.

Still talking about Bush - will it ever end.