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In our opinion: Proposed U.S. budget needs not ‘mindless austerity’ but mindful austerity
An underlying premise in President Barack Obama’s proposed $4 trillion budget, unveiled recently, is that the economy has improved to the point where the austerity of sequestration no longer is necessary. The word “sequestration” describes a set of automatic spending reductions that took effect in 2013 because Republicans and Democrats were unable to agree on a way to control runaway budget deficits. Originally, it was set in place as a draconian worst-case scenario intended to prod both sides to work together…Read More
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