What next? Lawmakers look to undo the back-up plan
Published on Forum: News/Activism | shared via feedly mobile
[snip] With the collapse of the deficit-cutting supercommittee, Congress' emergency backup budget-cutting plan now is supposed to take over — automatic, across-the-board spending reductions of roughly $1 trillion from military as well as domestic government programs. But the big federal deficit reductions that are to be triggered by Monday's supercommittee collapse wouldn't kick in until January 2013. And that allows plenty of time for lawmakers to try to rework the cuts or hope that a new post-election cast of characters — possibly a different president — will reverse them.
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