The $85 billion in the reduction in automatic spending increases took into effect on Friday, despite President Barack Obama and the Democratic leadership attempting to scrap it because it’s, simply, “dumb.”
Well, the sequester is so bad to some that it could cause to job losses of more than 170 million, according to California Democratic Congresswoman Maxine Waters. That’s right. Waters said at a press conference Friday that the $85 billion deduction in the rate of spending increases will wreak that much havoc!
“If sequestration takes place, that’s going to be a great setback. We don’t need to be having something like sequestration that’s going to cause these job losses — over 170 million jobs that could be lost,” stated Waters.
Here’s a tidbit of information: there are at most 140 million people working in the U.S. at this point and time.
It’s quite interesting that even though the U.S. is spending $15 billion more than it did last year, it will lead to that much domestic strife – perhaps foreign.
See the video below.