WASHINGTON — House and Senate budget negotiators reached agreement Tuesday on a budget deal that would raise military and domestic spending over the next two years, shifting the pain of across-the-board cuts to other programs over the coming decade and raising fees on airline tickets to pay for airport security.
Under the agreement, military and domestic spending for the current fiscal year that is under the annual discretion of Congress would rise to just over $1 trillion, from the $967 billion level it would hit if spending cuts known as sequestration were imposed next month. Spending would be capped at $1 trillion in fiscal year 2015 as well.
The $65 billion increase over the next two years would be spread evenly between Pentagon and domestic spending, nearly erasing the impact of sequestration on the military. Domestic programs would fare particularly well because the 2 percent cut to Medicare health providers would not be touched, alleviating cuts to programs like health research, education and Head Start.
That increase would be paid for in part with higher airline fees that underwrite airport security and higher contributions from federal workers to their pensions. Military pensions would get slower cost of living increases.
http://www.nytimes.com/2013/12/11/us/politics/party-leaders-indicate-deal-is-reached-on-budget.html
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<Sigh> You just can't turn your back on them. Congress could not withstand 2 entire years of forced budget cuts and had to get back into spending mode. They've got their hands in the cookie jar again. Slowing the rate of COLA's for military pensions is a despicable way of "paying" for increased spending. Shame on you Paul Ryan.
Deal Raising Military and Domestic Spending Appears Near
Discussion in 'News & Current Events' started by InTheLight, Dec 10, 2013.
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InTheLight Well-Known MemberSite Supporter
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Revmitchell Well-Known MemberSite Supporter
Ryan, Boehner, McConnell all need to go
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That aside, a largely symbolic deficit cut is, as George Will said on FNC's "Special Report," a rounding error. It means nothing. Not sure why everyone is so excited about this as to it's fiscal soundness. Sure, they got a compromise budget deal for the first time since 1986, but so what? It doesn't do anything. -
InTheLight Well-Known MemberSite Supporter