This week, the Obama administration furloughed 14,500 air traffic controllers -- staffers will lose two days of work per month -- ostensibly to comply with the 2011 Budget Control Act's $85 billion in sequester cuts this year. The Federal Aviation Administration's share is $637 million. So expect delays at the airport. That's the idea, but it didn't have to be.
Too often we hear politicians boasting about "cutting" spending and how they are "reducing" the federal deficit. During the recent sequestration debate, the vast majority of the media, Congress and President Obama all referred to the sequester as "cuts."
There's a secret lurking behind all that weeping and wailing over those across-the-board cuts in federal spending now going into effect -- and beginning to filter through the economy: