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>> SPENDING CUTS Latest News

MAY 11, 2013 - Forbes

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Federal Budget Sequester Not Having Effect On Economy Thus Far

In the summer of 2011, the national debt of the United States government was rapidly approaching its statutory ceiling.  In August of that year, members of Congress compromised and gave authority to a “super committee” to negotiate a deal.  The super committee was composed of six senators and six representatives, six democrats and six republicans. If the super committee hammered out a deal, then life would be good.  If the super committee did not, certain tax increases and spending cuts would occur starting in January 2013.  The super committee’s deadline was November 2011.  That deadline ... Read More

Tags: Federal Budget Sequester Not Having Effect On Economy Thus Far,  Spending Cuts Latest News