Wednesday, February 20, 2013

Cross Your Fingers, Cross Your Toes: Obama’s Forecast on Cuts Is Dire, Timing Is Disputed




President Obama on Tuesday painted a dire picture of federal government operations across the United States should automatic budget cuts hit on March 1: F.B.I. agents furloughed, criminals released, flights delayed, teachers and police officers laid off and parents frantic to find a place for children locked out of day care centers.

"Federal prosecutors will have to close cases and let criminals go," Mr. Obama said, flanked by law enforcement officers at the White House. "Tens of thousands of parents will have to scramble to find child care for their kids."

While the effects may ultimately be significant, many are unlikely to be felt immediately, officials said Tuesday after the president's remarks. Rather, they will ripple gradually across the federal government as agencies come to grips in the months ahead with across-the-board cuts to all their programs.  That’s if people don’t panic.  And there isn’t more bad news just around the corner...

More?  Go to http://www.cnbc.com/id/100473763

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