Sunday, November 20, 2011
U.S. Congress Cannot Agree On What Defense Cuts Must Occur
A supercommittee failure would trigger at least $500 billion in cuts to national security spending, but there is no consensus on just where they will be made.
Lawmakers included the automatic cuts in the debt ceiling deal as an incentive to get Congress to agree to shave at least $1.2 trillion from the deficit.
But the language also gave policy makers plenty of leeway.
The cuts do not begin to take effect until January 2013, which gives Congress a full year to adapt them before they are implemented. There are also disagreements over language in the debt deal, which have led to different interpretations over what could be cut.
Read more ....
My Comment: It always comes down to the details .... my prediction .... these cuts will be postponed even further into the future.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment