Both President Obama and congressional Republicans agree that they need to reduce the deficit but disagree about how to do it—and by how much and how fast. Obama wants a mix of different cuts and higher taxes. Republicans oppose new taxes, and many “want to make sure the sequester goes in” to lock in lower spending levels, says GOP Congressman Mick Mulvaney of South Carolina. Obama hopes public outrage will force Republicans to cave; they’re betting that Obama is “crying wolf,” as Wyoming Senator John Barrasso puts it, and that the public won’t feel the pain the President is predicting.
- How Bad Will It Be?
- Does This Mean I Don’t Have to Pay My Taxes Because the IRS Will Be Shut Down?
- Why Is This Happening Again?
- Why All This Focus On Cuts? Wasn’t The Latest Election About Which Party Could Create More Jobs?
- What About Monthly Social Security Checks, Medicare and Veteran benefits?
- When Will the Two Sides Come to the Table and Strike a Deal?
- Is There Any Way to Limit the Damage?
- What Does “Sequester” Mean?