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$85.6 billion

Budget cuts aim to take $85 billion out of circulation

February 26, 2013 by Archived posts 700 Comments

Mariela Limon |Staff Writer| The nation will be hit with $85 billion of automatic spending cuts beginning March 1, threatening jobs and funding nationwide, unless Congress agrees on a resolution plan to avoid cuts. According to a White House blog, “Congress passed a law saying that if they couldn’t agree on a plan to reduce our deficit by $4 trillion – including the $2.5 trillion in deficit reduction lawmakers in both parties have already accomplished over the last few years – about $1 trillion in automatic, arbitrary cuts would start to take effect this year.” If no action is taken, the proposed cuts will affect domestic and defense spending. White House officials released a … [Read more...] about Budget cuts aim to take $85 billion out of circulation

Filed Under: News Tagged With: $85.6 billion, automatic budget cuts, budget cuts, California, congress, head start, jobs, law enforcement, money, news, Obama, President Obama, schools, sequestration, tuition, work-study

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