Real cuts for the debt vote

posted by
June 8, 2011
Cato Institute
by Chris Edwards  
Posted in Commentary

"The House's overwhelming rejection of a clean debt-limit increase means that the two parties must now find major spending cuts. House Republicans say that they will not support a debt increase unless the Democrats agree to equal-sized spending cuts. If Congress raises the debt limit by $1 trillion, then it must also find budget savings of at least $1 trillion, over either five or ten years. The crucial question is: Will the proposed budget savings be real cuts or smoke-and-mirrors 'cuts?'" (06/07/11)  

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