No deal in sight as rhetoric ramps up
The sequester arrived on Friday. But the sun still came up, and we are all still going to work. About the only effect the cuts have had is an uptick in the amount of grandstanding you’ve been hearing from politicians.
After a late Friday meeting and calls to leaders over the weekend, there is no deal to stop those automatic spending cuts. Woodlands Congressman Kevin Brady says the people he's hearing from don't mind the cuts, as long as they get to keep what they make.
“More Americans prefer these cuts to taxes, even though the cuts may not be popular,” Brady said.
Brady says the polling he has seen backs up that assertion.
“More than two-thirds said cutting wasteful cutting spending is the solution to our economic woes. And that’s a lot different from the panic you hear today,” Brady explained.
Political analyst Jim McGrath told KTRH says you can expect things to remain the way they are, and that President Obama wants it that way.
“He doesn’t want a deal. He wants to continue blaming Republicans. He wants to destroy the Republican party,” McGrath said.
And financial strategist Richard Rosso says Wall Street hasn’t gotten spooked by the cuts yet.
“We’ve had a great year so far. It’s been a non-event. But you are starting to see volatility pick up. However, I think that’s more than just the sequester,” Rosso said.
McGrath says everyone in Washington will take a hit, but because he has higher approval ratings than Congress, the President has the edge for as long as the sequester hangs around.