Sequester Impact Small, Says Stanford Professor: Chart.

Sequester Impact Small, Says Stanford Professor: Chart.(BloomBerg).Automatic spending cuts that are scheduled to begin today will have a “very small” impact on the U.S. economy, according to John Taylor, an economics professor at Stanford University in California.

The CHART OF THE DAY shows the difference in federal spending with and without the reductions, known as sequestration, will be $42 billion in the fiscal year ending in September 2013, or 0.26 percent of gross domestic product, according to data provided by Taylor, who was Treasury Under Secretary for International Affairs from 2001 to 2005 under President George W. Bush. Hmmmm.....Obama: "The sky is falling and it's the Republican's their fault."....If anything he will use it to reduce the Military might of the US.Read the full story here.