Friday, April 18, 2014
YOLO COUNTY NEWS
99 CENTS

Budget threat takes a toll

By
From page A6 | February 13, 2013 | Leave Comment

The issue: ‘Fiscal cliff’ was postponed till March 1, but that date is drawing near

In August of 2011, the White House and Congress, faced with blundering into a default on U.S. debt, agreed to a budget deal that was, by design, so bad that the lawmakers believed they would never have to live up to it.

Instead, a bipartisan “supercommittee” would supersede the terms of the Budget Control Act by coming up with a long-term deficit reduction plan that both parties could agree on and the White House live with.

IF THE supercommittee failed — as it did — the federal budget for this year would be required to take an across-the-board cut of around $85 billion. The cuts would continue for 10 years, until $1.2 trillion had been gouged from federal spending.

The cuts, known as a sequester, were supposed to take effect Jan. 1, the dread “fiscal cliff” of recent memory, but at the last minute Congress postponed the moment of reckoning until March 1.

Here it is, the second week of February, and Congress seems to be sleepwalking toward that deadline. The timeframe is even tighter than it seems because the GOP-run House plans to work only 11 days this month.

Senate Majority Leader Harry Reid, D-Nev., appeared to up the ante earlier this month when he said Democrats would demand additional revenues — either through tax hikes or loophole closings — as the price of averting the mandatory cuts. The Republicans felt they did their share last month by agreeing to let taxes rise on some upper-income earners. Now, they want to see spending cuts in return.

Some House Republicans now favor letting the sequester happen, at least temporarily, to shock Congress into taking federal spending seriously.

ECONOMIC ANALYSTS disagree about the specific effects of a sequester, but they agree the total effect would be bad. The Associated Press summed up the prevailing view that the deadlock “has the potential to slam the economy, produce sweeping furloughs and layoffs at federal agencies and threaten hundreds of thousands of private-sector jobs.”

The Pentagon would bear the brunt of the cuts — about $43 billion this year, an amount that senior officers say would hollow out the military. Defense Secretary Leon Panetta said if Congress allowed the cuts to go through, it would be “a shameful, irresponsible act.”

March 1 isn’t that far off and Congress isn’t above giving itself another postponement. But the weary American public, including people whose jobs are at stake, generally would appreciate it if Congress showed some sense of urgency about the problem.

LEAVE A COMMENT

Discussion | No comments

The Davis Enterprise does not necessarily condone the comments here, nor does it review every post. Read our full policy

.

News

Chuck Rairdan joins school board race

By Jeff Hudson | From Page: A1

 
Davis United Methodist Church, Holmes Green Team leaders honored

By Special to The Enterprise | From Page: A1 | Gallery

Old friend helps Brad and others find kidneys

By Dave Jones | From Page: A1 | Gallery

 
Need a new best friend?

By Enterprise staff | From Page: A3 | Gallery

‘Hitchhiking’ dog looking for new home

By Lauren Keene | From Page: A3 | Gallery

 
Chipotle fundraiser boosts Emerson tech upgrade

By Enterprise staff | From Page: A4

 
Event to provide nature scholarship

By Enterprise staff | From Page: A4

 
Online K-12 school holds info night

By Enterprise staff | From Page: A4

Volkssporting Club plans North Davis walks

By Enterprise staff | From Page: A4

 
Schwenger lawn signs available

By Anne Ternus-Bellamy | From Page: A4

Volunteers needed for Grad Night

By Enterprise staff | From Page: A4

 
Davis grad makes rain collection a business

By Jason McAlister | From Page: A4 | Gallery

A few spots left on history tour

By Enterprise staff | From Page: A4

 
Students have new options on leasing front

By Enterprise staff | From Page: A5 | Gallery

Author discusses memoirs of Appalachia at The Avid Reader

By Special to The Enterprise | From Page: A7

 
NAMI backers walk in Sacramento

By Special to The Enterprise | From Page: A8

 
Food for the hungry

By Enterprise staff | From Page: A10

Groups join for a day of service

By Special to The Enterprise | From Page: A10

 
.

Forum

Tom Meyer cartoon

By Debbie Davis | From Page: A6

 
In search of great ideas

By Letters to the Editor | From Page: A6, 1 Comment

Please keep the nursery open

By Letters to the Editor | From Page: A6

 
Early help is a great investment

By Letters to the Editor | From Page: A6

More tax money? Answer the question

By Rich Rifkin | From Page: A6

 
UCD IS responsible for students

By Letters to the Editor | From Page: A6

 
.

Sports

DHS’ Golston goes full-bore on the diamond

By Thomas Oide | From Page: B1 | Gallery

 
Devils show more life in loss to Mitty

By Enterprise staff | From Page: B1

Sharks double up Kings in Game 1

By The Associated Press | From Page: B1

 
Aggies lose a slugfest in opener at Riverside

By Enterprise staff | From Page: B1

Fox coming to UCD; Riffle heads to Florida

By Bruce Gallaudet | From Page: B1

 
DYSA roundup: Intensity has big week; 10U games dominate schedule

By Enterprise staff | From Page: B2 | Gallery

Sports briefs: Aggies set the academic bar high

By Enterprise staff | From Page: B8 | Gallery

 
Pro baseball roundup: Susac sends Sacramento to a rare loss

By The Associated Press | From Page: B8

.

Features

.

Arts

‘Transcendence’: A whole new level of tedium

By Derrick Bang | From Page: A11 | Gallery

 
‘The Bloom’ paves way for Whole Earth Festival

By Enterprise staff | From Page: A11

DHS tribute to Tony Fields slated for April 25-26

By Enterprise staff | From Page: A11

 
UCD, city team up for Music on the Green

By Enterprise staff | From Page: A11

.

Business

Ford turns its Focus to domestic market

By Ali Arsham | From Page: B3 | Gallery

 
.

Obituaries

.

Comics

Comics: Friday, April 18, 2014

By Creator | From Page: A9