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McDonnell: Sequester Could Cause Recession
Virginia Governor sends letter urging action to president, congressional delegation.
Virginia Gov. Bob McDonnell has sent a letter to President Barack Obama and the Old Dominion's congressional delegation calling for immediate action to prevent automatic spending cuts under sequestration. The $1.2 trillion in cuts — meant to force Congress to compromise, which hasn't happened — are slated to go into effect March 1. That deadline has been pushed back several times as lawmakers have brokered Band-Aid solutions. "The automatic sequestration reductions mandated by the Budget Control Act of 2011 are already having a significant adverse effect on the Commonwealth," McDonnell stated. "When fully implemented, they could force Virginia and other states into a recession. Sequestration-mandated reductions will be implemented with no …
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The BSD Guy
2:41 pm on Wednesday, February 20, 2013
Sort of odd how the "Tea Partiers" and their workalikes are all for cutting budgets until it's THEIR budget being cut ... then suddenly there's a change of mind and a need to actually THINK before acting. Sort of odd also how the Tea Partiers economic theories based on "The magical invisible hand of free enterprise magically fixing everything" go out the window when faced with reality. more ›