I just got word that starting tomorrow, my salary will be cut by 2.36 percent. This is absolutely devastating to me and my financial security. Until midnight tonight, my annual income is $360,000. Starting one minute after midnight, it drops like a rock to $351,500. I am in despair.
I am not going to be able to pay my electric bill. I won't be able to pay for three square meals per day. No new shoes for the kid. We'll have to park one of our cars since we won't have enough money to fuel it.
You may object that a 2.36 percent cut is chicken feed, but that shows how little you know of financial planning and management. This is a truly catastrophic cut. And if you are abjectly stupid, you might object that even with the $8,500 pay cut, I am still making $1,500 more than I did last year.
You just don't understand finance.
But now you do understand how President Obama is handling sequestration.
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