The federal sequester hit March 1 without causing an economic apocalypse. But those who accused President Barack Obama of overhyping exulted prematurely. Just ask municipal officials upset that the feds no longer will pay to staff control towers at Boca Raton Airport and Martin County’s Witham Field.
President Obama did oversell the sequester’s immediate effects. He looked petty when he curtailed White House tours. But the president is correct that the cuts will create a drag as they ripple through the economy. Those who wrongly dismiss the cuts as a 2 percent belt-tightening misrepresent what is happening. Because Medicare and Social Security are largely held harmless, discretionary spending at other agencies must be cut much more than 2 percent and over only half the budget year.
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