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Most people are not familiar with the political term “sequester.” But you’ll likely hear this term on a regular basis. Dr. Julianne Malveaux, a noted economist with a PhD from MIT, says that no matter who wins this year’s presidential election, some budget cuts may kick in that can be absolutely devastating to the US economy. Dr. Malveaux breaks the process down in an article, and says that if Congress doesn’t learn to work together soon, there is going to be h**l to pay in the economy.
Dr. Malveaux also makes the accurate point that spending should increase during a recession, not decrease, and the Republican push toward more budget cuts can have a long-term harmful effect on the entire US economy.