Jobs at stake and still, no action

Feb. 05, 2013 @ 05:01 AM

It seems to have a downward spiral and no one is able to stop.

Over the final weeks of 2012, there was much discussion over a looming word called sequestration.

Essentially, in simple terms, the word means, at least in this usage, cuts.

Late in the year, Congress passed a temporary fix to halt damning cuts to most federal government spending. But, the time to face the music is now upon us.

According to a report from the Congressional Budget Office, deep cuts to the armed forces, Federal Bureau of Investigation and most domestic programs could cost the country 1.4 million jobs.

In fact, if the cuts remain in place, defense spending will be reduced by $55 billion and non-defense discretionary spending will be cut by $27 billion over the next seven months, according to a New York Times opinion piece from Sunday.

Republicans in Congress have said they are not in favor of any halt to sequestration.

In fact, according to the Times, Sen. Tom Coburn, R-Oklahoma, said that be believes people want sequester to happen.

The end result, if it does happen, could be an economic meltdown that will reach the far corners of the nation, including right here in Rutherford County.

There are other solutions to avoid the impending doom that lurks just around the corner.

One broad stroke that has been considered includes closing out tax loopholes for large corporations and hedge-fund managers however, no one in Congress appears to be willing to make that big step.

We are facing a "trickle down" effect if sequester runs its course.

Defense jobs will be the start then, as contracts are limited, states, counties and cities will be the next to feel the pain. Education and public safety are also on the block.

While either party has an end-all solution that helps the situation, we have called for time and time again for some kind of compromise.

Cut some spending and increase taxes on those making over a certain income. Work on modification to the country's already burgeoning tax code.

The bottom line is that cuts aren't the only answer but, neither is finding additional revenue. There has to be a balance.

There is little time to waste before we all start to feel the full effects of Washington politics.

By Matthew Clark, for the Editorial Board

 

The Daily Courier Editorial Board consists of community members Jerry Brewer, Kyle Bingham, Tom Padgett, Dr. Shermaine Surratt and Cliff Strassenburg as well as Editor Matthew Clark