Mar 3, 2013 / 9:04 pm
The spending cuts are here to stay if you believe the public posturing Sunday.
The Senate's Republican leader Mitch McConnell called them modest. House Speaker John Boehner isn't sure the cuts will hurt the economy. The White House's top economic adviser, Gene Sperling, said the pain isn't that bad right now.
So after months of dire warnings, Washington didn't implode, government didn't shut down and the $85 billion budget trigger didn't spell doom. And no one has yet crafted a politically viable way to roll back those cuts.
"This modest reduction of 2.4 per cent in spending over the next six months is a little more than the average American experienced just two months ago, when their own pay went down when the payroll tax holiday expired," McConnell said.
"I don't know whether it's going to hurt the economy or not," Boehner said. "I don't think anyone quite understands how the sequester is really going to work."
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