Sequesters Didn't Hurt Economy, But What Will?

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A new report shows the sequester budget cuts did not hurt the nation after all, despite President Barack Obama's dire warnings about a terrible impact.

The president claimed, among other things, that the Pentagon would not be able to pay for health care for service members and that 600,000 low-income families would lose government food aid.

But those predictions did not materialize. In fact, the Washington Post reported that most agencies made do.

For example, the Justice Department cut $300 million from already "expired" expenses. It also cut $45 million allocated for detainees who don't exist.

Finally, the U.S. Geological Survey slashed nearly $3 million in conference expenses.

The sequester cuts didn't hurt the economy as predicted, but is it time to breath a sigh of relief? Bill Frezza, a Boston-based venture capitalist and a fellow at the Competitive Enterprise Institute, explains, on CBN's Morning News, July 3.

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