Texplainer: What Would Sequestration Mean for Texas?
Hey, Texplainer: All anyone is talking about right now is sequestration and the harm it might do to our government. How would Texas fare?
After narrowly avoiding the dreaded “fiscal cliff,” which would have would have slashed about $656 million in grant funds to Texas, according to The Dallas Morning News, another potential crisis looms: sequestration.
Sequestration is the term for a series of mandatory budget cuts to federal programs, totaling $1.2 trillion in the U.S. over 10 years, that would go into effect March 1 if Congress doesn't find a way to trim that same amount ...
Comments (2)
stlevine
Sequestration would mean yet another cut in how the federal government pays physicians for providing health care services to patients on Medicare -- a 2-percent cut in a payment schedule that's nearly 50 percent behind the increasing cost of running a practice since 2001 (when the payments were still below actual costs.) At a time when only 58 percent of Texas physicians are taking all new Medicare patients, our senior citizens will feel the impact.
audrey fisher
Considering that major financials problems on the horizon for Energy Future Holdings ( formerly TXU), the State is going to be in serious trouble possibly in 2014.
Perry is arguing that taxes need to be cut and people should be get rebates. So, how will the State survive if it is forced to either bail-out EFH or have no major public utility company. Where will they get the money?
Big picture - ignoring the big problems down the line may be the GOP's last dance, because the real question is whether they will try and bury the reality until after the election and then tell everyone - your skrewed, we caused it and we don't care?
http://www.bloomberg.com/news/2013-02-12/energy-future-rout-erases-500-million-in-day-corporate-finance.html