Obama signs sweeping US budget cuts into effect

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The midnight deadline for the Sequester issue to be solved as come, and gone without a deal being reached on how to avoid the damaging cuts. Obama has blamed the Republicans saying:

“They’ve allowed these cuts to happen because they refuse to budge on closing a single wasteful loophole to help reduce the deficit…we shouldn’t be making a series of dumb, arbitrary cuts to things that businesses depend on and workers depend on”

He warned of huge job loses if a deal was not reached and that growth will slow. The IMF has stated that the cuts will depress global economic growth.

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Contributed by Chris Carrington of The Daily Sheeple.

Chris Carrington is a writer, researcher and lecturer with a background in science, technology and environmental studies. Chris is an editor for The Daily Sheeple. Wake the flock up!

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