New Budget Foray For 2013 Exacerbates Congressional Divide

Thursday, March 15, 2012 09:41
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New Budget Foray For 2013 Exacerbates Congressional Divide

Tags: Congress | economy | outlook

As Republicans try to push through a different budget limit for 2013, Democrats are pointing fingers. A budget figure agreement was reached between the two parties in August of 2011 and the figure selected by Republicans falls below that. Democrats are saying the new figure violates the agreement and are accusing Republicans of trying to change a law that has already been passed.
 
Republicans say they are simply trying to shift cuts away from the defense department to entitlements. Government paid health-care premiums are at the top of that list. Democrats considered the agreement a definite budget because specific amounts were agreed upon. Both parties accuse each other of political posturing.
 
Of course, either budget level will have an effect on the economy and on the investment environment. Notwithstanding election year yings and yangs, the focus on spending relates directly to the deficit situation. The deficit has been cited as a predominant threat to the US economic recovery.
 
 

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