The Chicken Littles in Washington are having conniptions over the thought of having to make some spending cuts. The cuts authored by the President are on a road to being allowed to stand by the Republican led House. Its called Sequestration.
If we don't make mandatory cuts in the bulging deficit, we likely will go on spending at the same rate until we bankrupt the country. Nancy Pelosi of course will insist we do not have a spending problem. Actually the cut will be minisculeat 2.36 percent. Even with the tax increases, we will have to borrow ampther trillion this year to keep writing all those government checks