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Friday, Aug 29, 2014

Budget Battle: It's Just Beginning...

March 7, 2013|6:27 am

With little indication that political leaders are willing to reach a compromise on government spending and taxation priorities, the Friday sequester deadline will be followed by (at least) four more budget crises created by Washington politicians.

The sequester was a set of reductions in the growth of government spending that went into effect on Friday as part of the Budget Control Act (2011). The cuts in spending growth were designed to be so painful that they would force even a deeply divided Congress and president to agree to a long term deficit reduction plan. But, they were not painful enough to encourage political leaders to engage in one of the most fundamental aspects of Democratic governance: compromise.

Read more at http://www.christianpost.com/news/with-sequester-over-more-budget-battles-lie-ahead-91239/#8gCzdib8R5RG1C12.99

Source URL : http://www.christianpost.com/news/budget-battles-its-just-beginning-91402/