Sequester: What Will Massive Spending Cuts Mean?
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The $85 billion across-the-board federal spending cuts nobody supposedly wanted are now scheduled for Friday. Democrats and Republicans are braced to blame each other for whatever the consequences might be. How great is the threat to a struggling economy? What's the role of political theater? Also, Britain's top cardinal steps down and skips the conclave, a big audience but mixed reviews for last night's Oscars.
Banner image: Sequestration will impact both air traffic control and defense budgets. Photo by MCAS Cherry Point
Making News
UK's Top Cardinal Stepping Down, Skipping Conclave ()
Britain's Senior Catholic official has stepped down removing himself from the Conclave of Cardinals scheduled to pick the next Pope. Did the Vatican push out Cardinal Keith Patrick O'Brien because priests accused him of "inappropriate" sexual behavior? Dennis Coday, Editor of the National Catholic Reporter, joins us from Rome.
Guests:
- Dennis Coday: National Catholic Reporter, @dcoday
Main Topic
Friday's Sequester: Economic Disaster or Political Theater? ()
Ohio will lose $25 million for primary and secondary education; Georgia may not get the money to vaccinate against childhood disease; Pennsylvania will loose help for victims of domestic violence; Texas will see 52,000 defense workers furloughed, and Virginia will get less federal support for its transportation program. With the White House spinning out state-by-state damage because of Friday's scheduled budget cuts, Republican Governors are increasingly uneasy. Meantime, Tea Partiers call "sequester" the best thing since they were elected, so Republican House leaders are getting hit from both directions. With no talks visible or behind closed doors, Washington is braced for the blame game. What's at stake for education, transportation, law enforcement, Pentagon contractors and economic recovery?
Guests:
- Nancy Cook: National Journal, @nancook
- Scott Wong: Politico.com, @scottwongDC
- Daniel Mitchell: Cato Institute, @danieljmitchell
- Jared Bernstein: Center on Budget and Policy Priorities, @econjared
Links:
- Cook on the White House trying to increase pressure on GOP by detailing state-by-state spending cuts
- Wong on sequestration and political finger-pointing
- Cato Institute on 'the fairy tale' on sequester cuts
- Cato Institute on the 'flimsy case' for stimulus spending
- Center on Budget and Policy Priorities on deficit savings, stabilizing the debt
- Center on Budget and Policy Priorities on separating the debt limit from the deficit problem
Reporter's Notebook
Ratings Up, Reviews Mixed for Hollywood's Big Close-Up ()
For the first time in Academy history, the first Lady of the United States gave out an Oscar last night. That wasn't the only departure from tradition. For those who liked it and those who did not, last night's Oscar ceremony gave Hollywood plenty to chew on. Kim Masters is editor-at-large for the Hollywood Reporter and Host of KCRW's The Business.
Guests:
- Kim Masters: host, 'The Business', @kimmasters
Links:
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