“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

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