Impact sequestration would have on economy
Consequences if no deal is reached
- Duration 3:47
- Date Feb 21, 2013
Consequences if no deal is reached
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-- in the finger pointing mode lets talk more about the sequester is potential impact on -- on our economy Bob Cusack.
Is managing editor of the hill ought to listen to the the I guess the spin from the White House it's all doom and gloom one would think that.
We're gonna have a financial meltdown if and when this thing kicks in.
What's really likely to happen here Bob.
Well you know remains to be seen this is a high stakes showdown for both the White House as well as congressional Republicans remember.
Present Obama last year during a debate with Mitt Romney said that sequester wont happen so this is gonna happen.
On his watch for the same time Obama's approval ratings are at a three year high so.
There's some risk for the GOP here the Republicans are very frustrated with the White House -- saying that.
The white has not serious about spending cuts that they have to take whatever cuts they can get even.
Even these spending -- was which they don't like but they say something has to be done.
Well along along those lines Rich Lowry of the national review wrote this regarding Republicans he said.
Republicans want to blame president Barack Obama for the idea of the sequester.
Even though they signed onto it as part of a bipartisan deal to get past the debt ceiling showdown of 2011.
Do they think that no one will remember that they voted for the deal he does have a point.
He does is it's a tough.
Uphill climb I think for Republicans because all the present Obama as a bully pulpit of course.
And right now Republicans -- are issuing press releases there they're not in town congress is not in session.
They'll be back next week and it's really just step up PR finger pointing blame game because.
Neither side I think is serious about.
Getting solution it -- they're just not in serious discussions whatsoever present Obama has been talking to Republicans on immigration.
But he's not been reaching out on this when Newt Gingrich's Republican led house shut down the government.
Of you know under the democratic President Bill Clinton.
Is there a parallel here.
You know what -- somewhat of a parallel.
Because if we're certainly cutting government and there will be furloughs but the government won't be shut down.
Now the government is funded through march 27 so there could be a deal to continue funding the government Republicans don't want a complete government shut down.
So come march 27 may -- they have a deal to both deal with the sequestered.
And deal with funding the government the right now if congress does nothing and looks like that's gonna happen to -- we'll go into effect on Friday.
Let me -- just something else that were Rich Lowry wrote he says the sequester is designed to be crude and unappealing to all sides -- disproportionately.
And -- -- -- defense spending and domestics did today it didn't domestic discretionary spending.
There's very little to recommend that except that it is actually a spending -- In -- Washington where that is.
The rarest of creatures I mean.
Republicans seem willing to let this thing go through hoping.
That it gets us started down the road a budget cuts is it possible.
It you know it could be but there are some Republicans especially on armed services committee like John McCain Lindsey Graham.
They are very nervous about these cuts as well as how these cuts could affect other things the White House -- -- -- fact sheet basically saint.
Really anything that that affects in the middle class could be impacted.
By the -- so the problem for Republicans is that the next workplace.
Explosion or there's food safety problem in the country.
The White House will be able to say I told itself.
There was -- week.
Felt about this vaccine from and you did nothing so the Republicans are to blame and right now the polls are on the White House -- and that's the problem for the GOP.
Interest in Bob Cusack from the hill Bob thank you.