Federal Spending Cuts Would Greatly Impact Illinois' Middle Class
A series of automatic spending cuts called a sequester could be imposed by the federal government on March 1 unless Congress accepts new revenues stemming from higher taxes on the wealthy.
In a matter of days, $85 billion worth of across-the-board government spending cuts called a sequester could affect all 50 states. If imposed, the cuts would impact everything from education spending and national defense to public health and the economy, Huffington Post reported. President Obama is pushing Congress to accept his deficit reduction plan, which includes new revenues and spending cuts. The plan would achieve $1.8 trillion in budget reductions stemming from about $1.1 trillion in spending cuts and $680 billion in new revenues from limiting deductions and closing tax loopholes for the wealtiest Americans, Huffington Post reported. State Impact The White House has released reports detailing how each state would be impacted by a …
Danni
11:25 am on Thursday, February 28, 2013
To Margaret et al: each person has responded affirmatively, mirroring Bob Woodward's statement of this Obama "madness." Woodward was threatened for his exercise of freedom of speech AND freedom of the press. I would love to see Patch collapse financially. Eventually, communist driven entities crash, the fabric of religious oppression tears, dictators are destroyed and monarchies become impotent. … more ›