Thursday, October 17, 2013

Out of Control! Buying Time with Borrowed Money

featured-img
WASHINGTON — Announcing the budget deal he reached with Senate Majority Leader Harry Reid, Kentucky Republican Sen. Mitch McConnell said on Wednesday he was thankful Republicans were at least able to keep in place the automatic spending cuts that went into effect across government agencies earlier this year.
 
“That’s been a top priority for me and my Republican colleagues throughout this debate,” the Senate Minority Leader said on the floor of the Senate, referencing what’s known as the sequester. “And it’s been worth the effort.”
But while the deal freezes in place current spending numbers, the budget deal actually blows through the sequester spending caps that were supposed to go into effect on Oct. 1 — by nearly $20 billion.

No comments:

Popular Posts