We go thru this act EVERY TIME Congress has to vote on spending….
And the thing plays the SAME each and EVERY TIME….
Congress has to vote on spending…
We get told both parties will work together…
The elders in both parties get a deal framework…
The hard left and right of the parties come back and say NO DEAL…
The media goes batshit crazy with dire warnings of layoffs and recessions ….
And at the LAST minute…
Congress passes a deal…
There is NO REASON to believe that this won’t be the case again….
But it does get old….
And it IS serious for employers and the people that could lose their jobs over political jockeying and theatre
WTF do these people DO ALL Year, huh?
By law, all but the smallest companies must notify their workforce at least 60 days in advance when they know of specific job cuts that are likely to happen.
Obama administration officials say that the threat of layoffs is overblown and that Republicans are playing up the possibility rather than trying to head it off. The Labor Department said Monday that it would be “inappropriate” for contractors to send out large-scale dismissal notices, because it is unclear whether the federal cuts will occur and how they would be carried out.
Republicans reacted with fury, saying it is the White House that is playing politics.
“The president is focused on preventing advance notice to American workers that their jobs are at risk and on perpetuating uncertainty,” said Rep. Howard P. “Buck” McKeon (R-Calif.), chairman of the House Armed Services Committee.
The prospect of widespread layoff notices before Election Day — potentially hitting the swing state of Virginia hardest — underlines how the looming “fiscal cliff” at the end of the year is shaping the economy and politics many months in advance.
Economists say the threat of deep cuts in domestic and defense spending, coupled with automatic increases in taxes, is already a drag on economic growth and a source of enormous uncertainty for businesses, which are holding back on hiring and helping to keep the nation’s unemployment rate above 8 percent.
Republicans have seized an opportunity to attack President Obama over the planned cuts to defense spending, while Obama is pointing at the GOP, saying he will not roll back the spending reduction without Republicans agreeing to higher taxes on the wealthy to help tame the nation’s debt.
The far-reaching reductions in domestic and defense spending, along with the sharp tax increases, will take effect automatically at the start of the new year unless Obama and Congress act.Share on Facebook