It took only a tiny drop of .01 percent in fourth quarter GDP to produce another battle in the ideological war that is going on in Washington. Republicans blame it on the president’s spending and deficits, the president and his team on the congressional Republicans they call a “major headwind” and on Fox News for opposing Barack Obama’s plans for more spending and higher taxes. The president says that there is no spending problem and “we don’t have to worry about the debt short term,” Republicans that spending is the problem.

Which brings us to the now famous sequester. It is the last weapon left to Republican spending cutters who thought discretion the better part of valor in the fiscal cliff fight and allowed taxes and tax rates to rise, and have agreed to raise the debt ceiling for the next several months without obtaining significant spending cuts as a quid pro quo. Unless a deal is reached to cut the deficit by $1.2 trillion over the next ten years, spending cuts will be triggered, to fall equally on defense and on some domestic programs. The theory was that these cuts would be repugnant to Republicans who fear that $600 billion of defense cuts would “devastate” the military and “create a substantial risk of not meeting our defense needs,” according to Leon Panetta, Obama’s departing defense secretary. And it would be unappealing to Democrats because their favored social programs would share the pain with the military. This mutual distaste would force the parties to agree to replace the sequester meat axe with a scalpel.

Source: The Weekly Standard

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By the by....withholding tables are changing in March 2013....the feds didn't get them published in time for anyone's january checks...so look for 'I'm guessing an increase'...since Hussein Obama has already said we need more taxes to reduce the deficit.

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