Federal Spending Cuts

By: Associated Press Email
By: Associated Press Email

A new government report estimates that the big spending bill passed into law last month will cut the deficit by $122 billion over the next decade -- less than half what senior lawmakers predicted.

Speaker John Boehner had touted the legislation as reducing the deficit by more than $300 billion over a ten-year span. The Ohio Republican pointed to an analysis by a Senate aide in promising that the $38 billion in cuts this year would translate into $315 billion over a decade.

The Congressional Budget Office study also says that, because of military spending, the bill negotiated between Boehner and President Barack Obama actually increases the deficit this year by $3.2 billion.

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  • by tom Location: madison on May 17, 2011 at 03:51 PM
    Need to cut spending 1.3 TRILLION A YEAR. That would be a balanced budget. We have a one party two headed monster and every four to eight years we swap out the monster head.
  • by jes on May 17, 2011 at 10:23 AM
    Maybe one day voters will wake up and not beleive everything their favorite pols tell them. What happened to the 100 billion in cuts promised for this year? What happened to repeal of HCR? What happened to the jobs bill they promised to pass. These republicans made these promises for the 2010 election. Do you really believe they intended to follow thru or were they just BS so thier blind obedient supporters would give them power? These are the same pols who passed a $480 billion unfunded medicare part d bill. The largest socialist bill since LBJ's great society. They refuse to vote to stop the 20 billion per year in oil subsidies. This is socialism at its best. Taking tax payer money to give to businesses.
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