Wednesday, August 15, 2012

Looming spending cuts hit more than defense

WASHINGTON (AP) ? It's not just the Pentagon and defense contractors that face a funding crisis from broad government spending cuts in January. A lot of domestic programs are on the chopping block too, in ways that could affect average Americans more.

That could mean fewer air traffic controllers, border guards, FBI agents and park rangers would be on the job as furloughs swept across the government. Less meat would get inspected, and fewer people might get winter heating aid.

After the November elections, Congress will try to sidestep the domestic spending cuts, an equal $55 billion cut in defense spending and the expiration of former President George W. Bush's tax cuts. Economists have dubbed the simultaneous spending cuts and tax increase a "fiscal cliff," saying the combination could trigger a recession.

Source: http://news.yahoo.com/looming-spending-cuts-hit-more-defense-070915048.html

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