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Arthur Levitt Public Affairs Center

Student-Led Activities

Think Tank: Sequestration, Job Losses and the New Washington Economics

By Amy Song '16

Professor Gary Wyckoff addresses a dire problem in our economy: sequestration cuts. With the expected rise in entitlement costs, namely Medicaid, Medicare and Social Security, the Congress appointed a commission to brainstorm possible budget cut solutions to reduce the deficit. As a negative reinforcement, they set some automatic cuts that will go into place if the commission does not come up with necessary cuts; these cuts went into effect as sequestration cuts. These are painful cuts that serve no purpose. Professor Wyckoff compared current economic policy to two people driving a car together, with one steering right all the time (conservative Republicans) and the other steering properly but unable to see far ahead very well (liberal Democrats). The result is dysfunctional driving and a bad economy.