"The Fiscal Cliff"

[Anonymous]

Will newscasters please stop using this phrase?? I swear the phrase is being used by every newscaster.

[Anonymous]

Yeah, I'm sure they'll all stop right away because you say so.

Moron.

[Anonymous]

It's a pretty big deal OP.

[Anonymous]

It is not a big deal.

[Anonymous]

Anonymous wrote:It is not a big deal.

Do you work for the government?

Its a huge deal for defense contractors. They are already making cuts.

[Anonymous]

It's a really big deal. Whether you work for the government or not, it's going to shock the economy. The economy, in case you hadn't noticed, doesn't need that right now. Nothing wrong with slowly ramping down spending thought attrition, etc., but a fast and steep cut will hurt everyone in the country.

[Anonymous]

What is it?

[Anonymous]

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.

[Anonymous]

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

[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

We were both laid off from the financial services industry in 2008, so I'm one of "the rest of us." It's taken us four years to recover and we're barely back to ground zero. Would you like to see us back at 2008 again? Because, the sequestration will not just hurt federal employees and contractors. It's going to hurt everyone. I've already had my kick in the teeth, thankyouverymuch, and I'd like to not have to take another one just so you can get the pleasure of sticking it to federal workers. Talk about cutting off your nose to spite your face.

Signed -
Someone who understands this better than you

[Anonymous]

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?

[Anonymous]

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.

How about we cut the president and the house/senate? That should do it.

[Anonymous]

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.

[Anonymous]

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.

How about we cut the president and the house/senate? That should do it.

I appreciate the sentiment, but it wouldn't come close.

[Anonymous]

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??