Sep 17, 2012
After wrangling for months over next year’s federal budget pretending they couldn’t come to an agreement, Democrats and Republicans in Congress recently put off drawing up a new budget until after the November elections. The House of Representatives voted overwhelmingly to extend the current budget for another six months – through March 27, 2013. The extension is expected to be quickly approved by the Senate and signed into law by President Obama.
What Congress didn’t put off was big budget cuts both parties agreed to earlier. They will take effect automatically on January 2. These cuts – including Social Security, Medicare, Medicaid and other social programs, as well as public services and education – will be devastating.
No matter who wins the elections, one thing is sure: the two parties have already set in motion big cuts on January 2. This is what we have to look forward to unless we pull our forces together and fight back.