I hope I'm wrong however I read earlier today that it was an immediate 50 billion because the 500 billion is over a ten tear period.
Anything past 2 years you may as well right off because they won't stick to it.....they never do.
They are saying the Cut part of the House Cut/Cap/Balance plan is $111 billion for the new fiscal year.
No, I do believe there is $500B cut in the first year...