In the final debt limit compromise, Republicans and Democrats agreed to swap out the hostages. Gone is the threat of defaulting on U.S. bonds by refusing to raise the debt ceiling. In its place: Medicare providers and defense contractors.
If Democrats and Republicans do not agree to another $1.5 trillion in cuts later this year, then automatic cuts of about $500 billion in both national security and Medicare provider spending will be triggered, beginning in 2013. Republicans think the threat of cutting Medicare will force Democrats to bargain, and Democrats hope that the threat of defense cuts will force Republicans to bargain.
More
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
2 comments:
Lobbyist are nothing more than an accepted and illegal way to extort funds or business from the government. We allow it , I don't understand why.
Neither party's Congressmen "hope" anything at all. They merely speak and vote the way they are told to do by their bosses - the invisible and highly secretive Federal Reserve Bankers.
Post a Comment