Cramer Quick Take: Sequestration Cometh
NEW YORK (TheStreet) -- With massive government budget cuts just days away, Jim Cramer told Debra Borchardt at TheStreet.com Monday that he's not playing into the scare tactics that are starting to pour out of Washington.Instead, he said, the sequester may actually be a good thing.
Cramer said while Obama officials are saying military spending cuts may delay the deployment of Navy ships, in reality the military has plenty of places and programs where it can cut spending and still keep vital programs alive.He said CNBC colleague Larry Kudlow has done extensive research on budgets and government spending and, according to Kudlow, the government can easily find the cuts that are being mandated.
As for the stock market, Cramer said that perhaps like the fiscal cliff, going over then fixing what's most broken after the fact may be the winning strategy, especially since that appears to be the only strategy left on the table.
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-- Written by Scott Rutt in Washington.
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