{"id":41439,"date":"2013-02-13T08:50:00","date_gmt":"2013-02-13T08:50:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/as-blame-game-continues-the-threat-of-sequester-looks-almost-reality\/41438\/"},"modified":"2013-02-13T08:50:00","modified_gmt":"2013-02-13T08:50:00","slug":"as-blame-game-continues-the-threat-of-sequester-looks-almost-reality","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/as-blame-game-continues-the-threat-of-sequester-looks-almost-reality\/41439\/","title":{"rendered":"As Blame Game Continues, the Threat of Sequester Looks Almost Reality"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p>Even as President Obama in his opening State of the Union remarks on Tuesday said that sequester is a \u201cbad idea\u201d for the U.S. economy ,reiterating his demand for combination of taxes\u00a0 and spending cuts in order\u00a0 to avert $85 billion annual across-the-board budgets cuts, Republicans are almost certain that sequester will come into effect from March 1.<\/p>\n<p><span id=\"more-41439\"><\/span><\/p>\n<p>\u201cDemocrats, Republicans, business leaders, and economists have already said that these cuts, known here in Washington as \u2018the sequester,\u2019 are a really bad idea,\u201d said the President in his annual address to the nation on Tuesday.<\/p>\n<p>He said \u201csome in this congress\u201d were only in favor of preventing spending cuts on defense areas by letting bigger cuts on areas like education and job training, Medicare and Social Security benefits.<\/p>\n<p>Meanwhile Senate Minority Leader Mitch McConnell (R-Ky.) on Tuesday ruled out any possibility of reaching an eleventh hour deal with Democrats, which would help preventing the looming threat of sequester.<\/p>\n<p>Blaming Democrats for the policy impasse, McConnell virtually made it clear that the U.S. economy was likely to go through deep spending cuts both on defense and non-defense areas from March 1.<\/p>\n<p>While addressing to press reporters on Capitol Hill, McConnell said, \u201cIt&#8217;s pretty clear to me that sequester is going to go into effect. I see no evidence that the House plans to act on this matter before the end of the month.\u201d<\/p>\n<p>McConnell said that Republicans will be offering a counterproposal to sequester replacement bill which is likely to presented by Democrats this week; however, he also added that there is very little hope for any progress as both sides will are expected to stock to their demands.<\/p>\n<p>\u201cThe majority is going to offer a proposal I anticipate that we will have an alternative proposal, that however doesn&#8217;t lead to a solution &#8230; it just leads to a cover vote,\u201d added McConnell.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<div class=\"nr_clear\"><\/div>\n<div id=\"nrelate_popular_2\" class=\"nrelate nrelate_popular nrelate_default nr_1col nr_text\"><\/div>\n<p>\t<!--[if IE 6]>\n\t\t<script type=\"text\/javascript\">jQuery('.nrelate_default').removeClass('nrelate_default');<\/script>\n\t<![endif]--><\/p>\n<p>\t<script type=\"text\/javascript\">\n\t\/* <![CDATA[ *\/\n\t\tnRelate.domain = \"www2.thestockmarketwatch.com%2Fstock-market-news\";\n\t\tvar entity_decoded_nr_mp_url = jQuery('<span\/>').html(\"https:\/\/web.archive.org\/web\/20130215060627\/http:\/\/api.nrelate.com\/mpw_wp\/0.51.2\/?tag=nrelate_popular&domain=www2.thestockmarketwatch.com%2Fstock-market-news&url=http%3A%2F%2Fwww2.thestockmarketwatch.com%2Fstock-market-news%2Fas-blame-game-continues-the-threat-of-sequester-looks-almost-reality%2F41439&nr_div_number=2&maxageposts=7200&increment=1\").text();\n\t\tnRelate.getNrelatePosts(entity_decoded_nr_mp_url);\n\t\/* ]]&gt; *\/\n\t<\/script>\n\n\n<div class=\"nr_clear\"><\/div>\n\n\n<script id=\"mNCC\" language=\"javascript\">  medianet_width='600';  medianet_height= '250';  medianet_crid='814932888';  <\/script>  <script id=\"mNSC\" src=\"https:\/\/web.archive.org\/web\/20130215060627js_\/http:\/\/contextual.media.net\/nmedianet.js?cid=8CUT71M67\" language=\"javascript\"><\/script> \n\n\n\n\n<!-- AddThis Button BEGIN -->\n\n\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a>\n<a class=\"addthis_button_preferred_2\"><\/a>\n<a class=\"addthis_button_preferred_3\"><\/a>\n<a class=\"addthis_button_preferred_4\"><\/a>\n<a class=\"addthis_button_compact\"><\/a>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n\n\n<script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script>\n<!-- AddThis Button END -->\n\n\n\n\n<p>More Posts by this author<\/p>\n\n\n\n<ul>\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/market-update-after-hours-february-14\/41547\">\nMarket Update After Hours February 14<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-end-flat-as-euro-zone-economic-data-weighs-down-sentiment\/41532\">\nStocks End Flat as Euro Zone Economic Data Weighs Down Sentiment<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-euro-slips-after-weak-euro-zone-gdp-data\/41531\">\nForex Market Update: Euro Slips after Weak Euro Zone GDP Data<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/valueclick-reports-q4-results-shares-surge-vclk\/41529\">\nValueClick Reports Q4 Results; Shares Surge (VCLK)<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-settle-lower-silver-prices-also-fall-2\/41528\">\nGold Prices Settle Lower; Silver Prices also Fall<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-flat-in-late-trading-4\/41526\">\nStocks Flat in Late Trading<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/zillow-shares-soar-on-upbeat-q1-outlook-z\/41525\">\nZillow Shares Soar on Upbeat Q1 Outlook (Z)<\/a><\/li>\n\n\n\n<\/ul>\n\n\n\n\n\n\n<hr>\n\n\n\n\n\n<table style=\"border:none;margin:0;\">\n\n\n<tr>\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/web.archive.org\/web\/20130215060627im_\/http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/userphoto\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n\n\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n\n\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n\n\n\n\n<div style=\"font-size:10pt;\">\n\nEd Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/div>\n\n\n<\/td>\n\n<\/tr>\n\n<\/table>\n\n\n\n\n\n\n\n<!--script type=\"text\/javascript\">\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\n<\/script>\n<script type=\"text\/javascript\"\nsrc=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script-->\n\n\t\t\t\t\t\t\n\n\t\n\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Even as President Obama in his opening State of the Union remarks on Tuesday said that sequester is a \u201cbad [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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