Comment not enough (Score -1) 38
3% is not going to be enough, expect 3 times as much cuts by the year end, then twice more as much in the following year. The money isn't flowing, once the money is not flowing the cuts start. Money flows when the economy expands due to actual increase of production or money flows when it is handed out for free by borrowing, printing. Once the flow slows down or stops, the music stops, everyone tries to grab the closest chair. Every company will be shrinking this year and in the subsequent years, until the attitudes change, government actually shrinks by a couple of orders of magnitude, rules that prevent productivity become unenforceable and/or are rescinded, gold replaces fake paper as money, then people will start rebuilding.