A University of Oregon economics professor says we need to cut federal spending soon- but now is not the right time to allow tomorrow's (Rri) sequestration cuts to go into effect. Professor Mark Thoma says the economy is too fragile to take this hit tomorrow.
He says independent numbers show it could cost the economy about 300 to 700 thousand jobs. Meantime, some conservatives are saying that the sequester cuts have been exaggerated and are politically motivated. They say the government needs to cut spending to deal with escalating national debt.