Originally posted at Capital Gains and Games.
There’s about to be a big change in the federal budget debate. In the end, the big winner will be the part of the budget that supposedly is so unpopular — federal spending — that a candidate for office this year cannot currently say he or she supports it without risking massive political condemnation and reprisals.
It’s been relatively easy to be anti-spending up to now because the reductions being proposed have mostly been theoretical and weren’t really likely to happen.
The irony is that this is about to change because of something that spending cut proponents themselves demanded. The sequester — the spending-cut-only alternative they insisted on if the anything-but-super committee failed — that will occur on Jan. 2 is the opposite of most of the plans that have been part of the federal budget debate up to now: It’s in place and will happen unless Congress and the president take some action to prevent it.
And it’s forcing companies, industries and voters to face the reality that the spending cuts could actually occur and, despite what they’ve been saying publicly, that they really don’t want it to happen.
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