Get flash to fully experience Pearltrees
More than any other economic danger looming on America's immediate horizon, including a possible break-up of the eurozone, sequestration poses the greatest single threat to American recovery in the near term. This arcane process came into force when the congressionally-mandated "super-committee, "officially known as the Joint Committee on Deficit Reduction, failed in its mission. As a result, the sequester calls for reductions in government spending totaling $1.2 trillion over the next nine years, of which $984 billion, or $109 billion annually, will be realized from across-the-board budget reductions. Although defense accounts for only 14 percent of the budget deficit, when entitlements are taken into account, the annual $109 billion dollar cut will be evenly divided between defense and non-defense reductions, with some small reductions in entitlements contributing to the non-defense side of the ledger.
Last day at Salon Glenn Greenwald Wednesday, Aug 15, 2012 9:30 PM UTC Politics The sham “terrorism expert” industry A highly ideological, jingoistic clique masquerades as objective scholars, all to justify US militarism Glenn Greenwald Wednesday, Aug 15, 2012 9:29 PM UTC Politics
For the past few weeks, I’ve been traveling around the country listening to workers who are paid at or near the minimum wage. Their stories about trying to make ends meet − and having to make choices between putting food on the table for their kids or filling up the gas tank so they can get to work − are truly moving.