POLITICS: Middle class would suffer from sequester cuts, White House claims
buzzz worthy. . . From the White House EXAMPLES OF HOW THE SEQUESTER WOULD IMPACT MIDDLE CLASS FAMILIES, JOBS AND ECONOMIC SECURITY Unless Congress acts by March 1 st , a series of automatic cuts—called a sequester—that threaten thousands of jobs and the economic security of the middle class will take effect. There is no question that we need to cut the deficit, but the President believes it should be done in a balanced way that protects investments that the middle class relies on. Already, the President has worked with Congress to reduce the deficit by more than $2.5 trillion, but there’s more to do. The President believes we can not only avoid the harmful effects of a sequester but also reduce the deficit by $4 trillion total by cutting even more wasteful spending and eliminating tax loopholes for the wealthy. Unfortunately, many Republicans in Congress refuse to ask the wealthy to pay a little more by closing tax loopholes so that we can prote...