Economists speaking at an Aug. 10 New America Foundation event in Washington, D.C. were not optimistic that legislators will find a way to dodge sequestration, the across-the-board discretionary spending cuts due to be implemented in January 2013 as required by the Budget Control Act.
Reaching a bipartisan agreement on a budget that combines tax increases and cuts enough to waive sequestration is “ambitious but possible if after the election there’s a sense that, ‘Okay, we’re now going to try to get something done,'” said David Wessel, economics editor of The Wall Street Journal and author of Red Ink: Inside the High-Stakes Politics of the Federal Budget.
“We’ll see whether that’s the sense after the election,” he added.
Keep reading this article at: http://www.fiercegovernment.com/story/economists-doubt-government-can-dodge-sequestration/2012-08-20.
