To: opentalk; ding_dong_daddy_from_dumas; stephenjohnbanker; DoughtyOne; calcowgirl; Gilbo_3; NFHale; ..
RE :”
Defense Secretary Leon Panetta vowed Thursday that he will not preside over deep Pentagon budget cuts that “hollow out” the military’s combat power. If the special congressional deficit panel fails to agree on $1.2 trillion in federal spending cuts by Thanksgiving, the Pentagon and other security agencies would face around $600 billion in automatic cuts. Officials say the Defense Department would take about half that cut, on top of the bulk of another $350 billion funding reduction over a decade mandated in the August debt deal.”
One thing I have noticed is that many are confused on this because of POOR reporting and the convoluted way the bill schedules things.
The super committee has to come up with recommendations this year, and congress must pass them this year, or the trigger cuts are executed. Except the trigger cuts don't go into effect until 2013 with a new Congress and possibly new POTUS.. And they can pass any spending bill they want over-riding the trigger cuts assuming a bill makes it past the POTUS desk. This is another phony jinned up crisis.
The cuts are delayed to protect those running for re-election, and rationalized because of the dying economy.
13 posted on
09/22/2011 11:38:18 AM PDT by
sickoflibs
(Over-taxed means 'paying too much in taxes', not zero taxes)
To: sickoflibs
"The cuts are delayed to protect those running for re-election, and rationalized because of the dying economy."
That is about right. The game playing continues.
14 posted on
09/22/2011 12:21:34 PM PDT by
Marine_Uncle
(Honor must be earned....Duncan Hunter Sr. for POTUS.)
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson