NATION (WIFR) -- In just 10 days, drastic automatic government spending cuts will kick in, unless Washington lawmakers can find a solution. Today, President Obama is pushing Congress to act fast to avoid the latest so-called fiscal cliff.
$85 billion in cuts will affect almost every Washington agency unless a deal can be reached before March 1st. The White House says these cuts are so steep they could derail our struggling economy, so the President wants Congress to pass a debt solution that includes both spending cuts and tax increases. However, that is something Republicans remain strongly against.
“Republicans in Congress face a simple choice. Are they willing to compromise or would they rather put hundreds of thousands of jobs and our entire economy at risk just to protect a few special interest tax loopholes that benefit only the wealthiest individuals and corporations?”
The Pentagon faces the biggest cuts, about $46 billion dollars, which could take a toll on our local aerospace and defense industry.
For the first time, two Congressional representatives representing the Rockford area made a joint visit. But while it was an historic event, it was not an optimistic one.
About 90% of Supplycore's business is with Defense Contractors and the National Association of Manufacturers indicates that sequestration cuts to the Department of Defense would cost approximately one million jobs nationally. Neither democratic Congresswoman Cheri Bustos or Republican Congressman Adam Kinzinger seemed hopeful that a deal to avoid sequestration could be reached by March 1st.
Cheri Bustos blames House Speaker John Boehner for adjourning the House without a deal in place, for the reason why the two representatives are in Rockford right now instead of in Washington trying to get something done. On the other hand, Congressman Kinzinger says it's the President who should be trying to come up with a compromise right now instead of being on vacation right now.