http://money.cnn.com/2013/03/21/news/economy/government-cuts/index.html?iid=SF_E_River
This article discusses the $85 billion in forced budget cuts that began on March 1st. These budget cuts have also been reffered to as "the sequester". A result of the sequester, that is focused on heavily in this article, is the forced closing of government run grocery stores on military bases. The stores will be forced to close one day each week, but it will not begin to be enforced until May. This closing will cause a small decrease in consumption.
The closing will be helpful in the implementation of the budget cuts. However, the reduction may not be that significant. I think perhaps the US should start saving some real money by cutting foreign aid. By foreign aid I don't mean aid for humanitarian causes. I mean the money spent on political lobbying and aid, in order to allow presence of US army bases on other countries such as Pakistan, Afghanistan, etc.
ReplyDeleteAlthough budget cuts have to start somewhere, I agree with Karn that the reduction is not going to be very significant and won't do much. The US needs to look to make cuts that will make more of a difference. One negative of this sequester is that some Americans will lose their jobs because of the cuts, but overall I agree these cuts and more need to be done.
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