Good morning and aloha!
It's been a heck of a morning...another reason not to miss the Big Show!
There's no doubt that sequestration is top of mind with everybody on Capitol Hill. There are so many political and financial implications contained within that there will be a flurry of conversations, debates, reconciliations, etc, in the next few days. Will Congress and POTUS allow mandatory cuts to happen? Maybe.
We spoke with Senator Brian Schatz and Congresswoman Colleen Hanabusa today and had two differing conversations.
The focus with Brian was the reality of the negotiations. He maintains POTUS has a balanced approach, using tax cuts and tax hikes to meet the $85 billion requirement to stave off sequestration.
Colleen maintains the balanaced approach POTUS supports is the best way, too, to avert the cuts. But, she further stirred up the water when engaging in a determination of budget process under the US Constitution and the role POTUS plays in appropriations. We were left with some confusion UNTIL...
Anneke Green of the White House Speakers Bureau and former Bush Admininstration official laid out all the details on the budget process.
Pheww...what a morning.
Bottom line. We will feel a financial hit in Hawaii if sequestration occurs. Job layoffs and furloughs will occur. Projects reliant upon Federal money will stall. But, we will not capsize and we will not fall. One really has to ask, though, "Why are we even here?"
Well, talk to POTUS. This poison pill contained within the BCA (Budget Control Act) should have never been placed there and, what was unthinkable, is now a virtual reality.
POTUS loves this aspect of the debate. He believes his election was a mandate, when the voting results indicate his should be a governance of compromise. Stay tuned~