{"id":5723,"date":"2013-03-08T12:27:12","date_gmt":"2013-03-08T17:27:12","guid":{"rendered":"http:\/\/stonescryout.org\/?p=5723"},"modified":"2013-03-08T12:27:12","modified_gmt":"2013-03-08T17:27:12","slug":"another-perspective-on-the-sequester","status":"publish","type":"post","link":"https:\/\/stonescryout.org\/?p=5723","title":{"rendered":"Another Perspective on the Sequester"},"content":{"rendered":"

The President has been treating the cuts from the sequester as some sort of budget Armageddon; blaming Republicans and talking up how much they’ll hurt. Here’s another perspective on these cuts<\/a> from people who look more closely at our financial situation.<\/p>\n

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Credit rating agencies are shrugging off sequestration, saying the U.S. government will need to do more to reduce the deficit if it wants to prevent a downgrade of the nation\u2019s credit rating.<\/p>\n

While the agencies say the $85 billion in automatic spending cuts represent at least a step towards deficit reduction, they argue much more is needed to prevent the United States from losing its \u201cAAA\u201d rating.<\/p>\n

\u201cIt\u2019s not the most ideal outcome,\u201d said David Riley, Fitch Rating\u2019s global managing director for sovereign ratings, on CNBC Europe. \u201cYou\u2019d rather have intelligent cuts and some revenue measures as well … but we don\u2019t live in an ideal world, and it\u2019s better to have some deficit reduction than none at all.\u201d<\/p>\n

The agencies view it as a positive sign that Congress did not simply scrap the unpopular sequester. Erasing the cuts without coming up with an alternative, something pushed by some liberal lawmakers, would have added to the deficit and debt and further pressured agencies to downgrade the nation\u2019s credit rating.<\/p>\n<\/blockquote>\n

They are glad Congress didn’t scrap it, but the year’s still young. In any event, when you hear Democrats freak out about these cuts, just remember that the credit agencies are yawning.<\/p>\n","protected":false},"excerpt":{"rendered":"

The President has been treating the cuts from the sequester as some sort of budget Armageddon; blaming Republicans and talking up how much they’ll hurt. Here’s another perspective on these cuts from people who look more closely at our financial situation. Credit rating agencies are shrugging off sequestration, saying the U.S. government will need to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,9,15,26],"tags":[],"class_list":["post-5723","post","type-post","status-publish","format-standard","hentry","category-democrats","category-doug","category-economics-taxes","category-politics"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/stonescryout.org\/index.php?rest_route=\/wp\/v2\/posts\/5723","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stonescryout.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stonescryout.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stonescryout.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stonescryout.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5723"}],"version-history":[{"count":0,"href":"https:\/\/stonescryout.org\/index.php?rest_route=\/wp\/v2\/posts\/5723\/revisions"}],"wp:attachment":[{"href":"https:\/\/stonescryout.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stonescryout.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stonescryout.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}