The Motley Fool Discussion Boards
Politics & Current Events / Political Asylum
|Subject: Re: Woodward esposes Obama as a LIAR||Date: 2/23/2013 3:24 PM|
|Author: DufusGoneSplat||Number: 1861831 of 1926067|
DGS - the ONLY recent bi-partisan agreement to significantly cut spending
WL - I'm sorry. Perhaps I have misunderstood. Has actual spending been cut?
I had understood that only budgets were cut meaning spending would still increase but at a lower rate.
Good question - a question I do not have time to research right now. But, I can give two quick responses;
1. If you look at Obama's submitted budget projections, take $85 billion from either 2013 or 2014 Outlays and compare that number to the previous year's projected Outlay. It looks like a spending cut.
2. The media frequently refer to "spending cuts", so if that's not the case, it's carelessness on my part. But, as The Wall Street Journal notes;
How Federal Spending Would Be Cut Under the Sequester
1) Defense spending, which includes Pentagon and defense intelligence spending, accounts for half the sequester cuts. Many of these programs will be reduced by roughly 13% over seven months.
2) Non-defense spending. This would include housing, education, or transportation programs.
3) Medicare. There will be a 2% cut in the payments to Medicare providers, such as hospitals and doctors.
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|