Everyone hears the word sequester, but most people have no idea what it even means.
Several college students, when asked how they feel about this years’ sequester have no idea what it is; therefore, they have no opinion on the matter, nor a reason to be or not to be worried.
A sequester is defined as a general cut in government spending according to dictionary.com
It is a battle that has raged between the Democratic and Republican parties of the government for the past 2 years, and if they don’t reach an agreement by Friday, several cuts in federal spending will automatically kick in.
Among cuts that will be made are the amounts of money available to the military, the FBI, and other programs that will total out to $85 billion by the end of the year and $2.1 trillion dollars divided evenly over the next nine years (2013 through 2021).
Certainly the average person is wondering how this will impact them, or why should they be concerned with it at all.
That money will be completely cut out of the budget affecting programs that the majority of the country will actually care about, are probably more recognizable to the public eye including national parks, hurricane relief programs and local school districts.
The sequester can only be avoided if Congress reduces the deficit by over $1 trillion.
“President Obama put forward a plan to avoid these cuts and reduce the deficit by cutting spending and closing tax loopholes. Now it’s up to Congress to act,” said Megan Slack author of the article What is the Sequester? at www.whitehouse.gov.
Ultimately, the fear is that a full $85 billion cut from the federal budget will damage the economy.
Perhaps the bigger issue is that if a decision is not reached it could threaten thousands of jobs and programs affecting citizens across the country.
With an understanding of the sequester, we simply wait until Friday and hope for the best.