“Even someone following the budget negotiations closely might be surprised to learn that there are no real cuts on the table in the way normal people think of them. That goes for Republican proposals, too. For example, households may decide to reduce their holiday spending this year from $750 to $500 and forgo the summer family vacation because times are tough. Those are spending cuts. Washington is the only place where a cut isn’t a cut. Instead, so-called spending cuts are reductions in the growth rate of outlays as prescribed under current law. Nothing is cut.”
http://www.economicpolicyjournal.com/2012/12/understanding-budget-cuts-in-current.html
Related posts:
US Gifts $38 Billion In Weapons To Israeli State, Even As U.N. Pulls Back
Edward Snowden's not the story. The fate of the internet is
The Police State Programs Not Affected by a Government Shutdown
Kafka’s America: Secret Courts, Secret Laws, and Total Surveillance
UN Takes on Al Qaeda in Mali
Facial Recognition Toll Booths Identify Drivers And Passengers, Notify Police In Seconds
Why Doesn't Outrage At U.S. Imprisoning Children Extend To U.S. Killing Children?
To protect restaurants, D.C. may curb food trucks
U.S. 10 Year Bond Yields in Perspective (1790-Present)
What Turbulent Times Mean for Gold
The Syria AUMF: Be Careful What You Vote For
Confiscation by the Installment Plan
Will Globalism Invade the US via its Cities? The Daily Beast Thinks So
Bill Bonner: US Market Crash Alert!
John Kerry Responds To Military Coup In Thailand