Sequestration must be prevented. It would severely harm the defense budget and other vital programs like transportation, infrastructure and education. Moreover, we cannot separate out defense and protect it from cuts while devastating other important programs – we need a balanced approach. If Republicans put revenue on the table, the solution is simple: find the 1.2 Trillion in 10 year savings necessary to get our deficit under control.
On this webpage, you will find new articles and reports from a variety of different sources that discuss the issues surrounding sequestration.
Smith: Time for Republicans and Democrats to Work Together to Stop Sequestration
Recently, Politico published an article authored by House Armed Services Committee Ranking Member Adam Smith that calls on Republicans who voted for the Budget Control Act, which has now led to threat of sequestration, to help prevent its devastating effects.
Ranking Member Smith’s Speech on Sequestration at Rand
On March 29th, Congressman Adam Smith, Ranking Member of the House Armed Services Committee, gave a policy address at the RAND Corporation's Washington Office. In the speech, Rep. Smith discussed the federal budget deficit and its likely impact on national security programs.
"If the government spends more money that helps, it puts money into the economy. If the government takes less money away from a business or an individual, that helps because that business or individual is able to put more money into the economy. The problem of course comes from the fact that you have to raise the revenue in order to spend it. And if you put the two together it becomes a slightly more complex picture. But we are not doing that. We are still fighting, program by program, tax cut by tax cut, making the case for why we cannot touch any of these things, and I believe that jeopardizes our national security," said Smith.
Bipartisan Policy Center: Indefensible: The sequester’s Mechanics and Adverse Effects on National Security and Economic Security
Bloomberg: McCain Says Revenue Increase Possible to Stop Defense Cut
Senator John McCain, the senior Republican on the Senate Armed Services Committee, said a revenue increase may be possible to avoid the threat of automatic cuts known as sequestration.
Yahoo News: Top conservative says read my lips: Don’t sign ‘no new tax’ pledge
As a conservative Republican, Lindsey Graham has never had a problem promising not to raise taxes. Like almost every other Republican member of Congress, he has signed the anti-tax pledge put forth by Grover Norquist's group Americans for Tax Reform.
But now Graham says the debt crisis is so severe that the tax pledge — which says no tax loopholes can be eliminated unless every dollar raised by closing loopholes goes to tax cuts -- has got to go…..
"We're so far in debt, that if you don't give up some ideological ground, the country sinks," said Graham.
Lockheed warns on costs of further U.S. defense cuts
Lockheed Martin Corp (LMT.N: Quote, Profile, Research, Stock Buzz), the Pentagon's largest supplier, said on Tuesday it could face hundreds of millions of dollars in business claims from suppliers if $500 billion in additional defense spending cuts take effect in January, as currently mandated.