Rutherford Speaks on Sequestration Impact

PEORIA - The Illinois state treasurer says federal lawmakers' failure to avoid the fiscal unknown could cause a serious local impact.

Dan Rutherford says education and transportation will likely see the most immediate cuts.  He says cuts to air travel will also hit businesses that depend on transporting goods.

Rutherford says the practice of pushing Americans to the edge has become too common.

"It's he who screams the loudest thinks they win, and that's not what we need right now in this country. Nor is it what we need in this state," said Rutherford. "We need the politicians to sit down and the statesmen to stand up. This is when you say, okay, I probably won't get everything I want, but again that's what democracy is about."

The cuts are effective at midnight. However, Rutherford is optimistic lawmakers will resolve the issue.

He says more efficiency with federal resources could likely help the budget.