About Time! The SPENDING CUTS will go into effect! The ONLY jobs impacted will be government that COST a fortune and produce NOTHING. This will help the dollar in light of Japan and Europe. The impact on the economy comes from the rise in taxes he signed into place to start with. WHY if he reduces the spending of private citizens that will NOT cost jobs but cutting his spending will? NOBODY should be allowed in Washington unless they worked in the REAL world. We do not need more lawyers. Obama was supposed to be a constitutional lawyer. All that meant was he knew what was still left in that document that had to be overturned. The Republican Party could not compromise – they did not have the votes and it would have split the party in two.