EL PASO- That means $85 billion worth of forced budget cuts will take effect. A difficult blow to taxpayers seems inevitable, but a local investor had something very positive to say about all this.
These spending cuts are just a drop in the bucket for the overall economic picture. Sure the numbers are large and intimidating, but these cuts to everything from public education to air traffic control to federal installations around our country only represent 2.4 percent of a 3.6 trillion dollar federal budget.
Local investment advisor Ruben Guerra said he was seeing very different signs and that the economy was actually improving. Consumers are spending and manufacturers actually have money to hire and invest.
His message to his clients or anyone who will listen is simple, "Go to bed, get a good night's sleep and keep collecting your checks, keep paying bills and save a little money every month."