Monday, November 21, 2011

Congress May Try Blocking Cuts if Debt Panel Fails

Did Congress' threat to automatically cut spending if an agreement was not reached fool ANYONE!?!
Fool me once, shame on me.....fool me 47 times.....
This is the reality:
"We need to balance the budget...just as long as we cut the spending from the other guys' pork projects, mine are all off-limits."

Failure by Congress' debt-cutting supercommittee to recommend $1.2 trillion in savings by Wednesday is supposed to automatically trigger spending cuts in the same amount to accomplish that job.
But the same legislators who concocted that budgetary booby trap just four months ago could end up spending the 2012 election year and beyond battling over defusing it.
Sens. John McCain, R-Ariz., and Lindsey Graham, R-S.C., say they are writing legislation to prevent what they say would be devastating cuts to the military. House Republicans are exploring a similar move. Democrats maintain they won't let domestic programs be the sole source of savings.
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