heyjk:

Does it bother anyone else that this is being done because of re-election timing, not what is best for the country?

I don’t know about you, but when I’m low on cash, I start cutting back and really watch my spending. Why can’t government follow the same rules? When does it end?

It makes sense to cut spending when an individual is low on cash.  However, the government is a different beast.  When government cuts spending, and I’m talking about across the board not cutting waste, it generally means some people will be out of work, either because a program was cut or the government didn’t help out  a struggling industry.  These people will stop paying taxes, which reduces government revenue, and they will also stop buying stuff.  This, of course, leads to more businesses shutting down and more people out of work, who then can’t pay taxes and will stop buying things.  In short, a death spiral.  Read up on the Great Depression.

The bottom line is in times of severe financial crisis the government is the only entity big enough to prop up the economy and keep people employed.