Friday, March 1, 2013
I have a daughter-in-law who is a civilian employee of the Air Force. Because of the cuts in defense spending she is likely to be furloughed from her job for 2 days each week. That's a 40% pay cut. Now multiply her times thousands of government employees. Those pay cuts mean less disposable income. Less disposable income means less spending on cars, durable goods, family vacations, entertainment and restaurant meals. That means less business and less sales for a broad variety of businesses all over the country. And that's just a small segment impacted by the sequester cuts.
The toll on small businesses, education and family budgets will be tremendous. Meanwhile, House members are headed home for the weekend, secure with their salaries, perks and better medical coverage than any of us. We sent them there to represent us; their attitude is "Let them eat cake".