Sequester hits US, demonstrations rock Portugal

Hundred thousand march against Austerity in Portugal rally

(Associated Posers) – LISBON, Portugal – Up to a half million demonstrators in Lisbon and cities across Portugal rallied against a Eurozone bailout of more than $103 Billion. Portugal is to cut its deficit to 4.5% of GDP this year, a target that might not be reachable with an economy set to contract by two percent.

The march included groups of teachers, healthcare workers and pensioners who have been especially hard hit by the budget cuts.

After cutting salaries and pension benefits in 2012, the government this year has declared a general tax increase and expects to impose further cuts of some four billion euros.

“We do not accept the math. We refuse to concede that our country cannot run massive deficits forever without adverse effects” said one of the leaders of the massive demonstration. “The enemy today is a government bent on 'living within its means' and the internationalists offering this bailout package! We do not need or want it, we must keep spending at all costs!”

"This demonstration is a clear sign that 'the troika' and the government are not wanted in this country," said Joao Semedo, the leader of a far-left bloc. “We reject this reality and will live in our own”.

A banner held aloft at the march showed a picture of Prime Minister Pedro Passos Coelho with the caption: "Today I am in the street, tomorrow it will be you."

Sequestor comes to America

President Obama signed the orders to make cuts in the budget amounting to less than two percent of the annual federal budget. He must find cuts of about $22 billion in the $3.8 trillion the federal government was set to spend before the end of the fiscal year in October.

After weeks and months of dire warnings from the government that were highlighted by the media, no deal could be reached with the opposition Republicans despite a heated, grueling 7-minute meeting with Congressional leaders before he took a golf vacation.

Republicans accuse the White House of over-exaggerating the spending cuts, which they point out is simply a reduction in the rate of growth. “Saying that planes will fall out of the sky, that women and children will be thrown in the streets, that police and fire departments and schools will close was all nothing more than scare tactics of the dirtiest kind.” said Congressman Pwn of Tennessee.

Meanwhile Representative Maxine Waters said that sequestration would cause “170 million” Americans to lose their jobs.

The Washington DC school district is set to lose as much as 0.006% of it's funding and schools in Virginia might lose upwards of 0.02%.

“These massive draconian cuts will lave our children behind” said liberal commentator Piers Morgan to his 80,000 or so viewers.