These cuts will force the U.S. to sharply reduce military and entitlement spending.
Cutting such spending sharply is a terrible idea, for several reasons.
First, sharply cutting military spending might suddenly weaken our position in several key areas of the world. Gradually reducing our commitments makes sense, but doing it suddenly does not.
Second, and even more important, cutting spending like this will hammer the economy, just the way the sharp cut in military spending in Q4 hammered the economy at the end of last year.