More Spending Cuts On the Way, The Big Issues

by news on August 7, 2011

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More Spending Cuts on the Way, The Big Issues Associated Press: The deficit reduction package signed by President Barack Obama ends one standoff but makes it likely there will be another before the end of the year. The package initially cuts spending by $917 billion over the next decade. It also creates a new joint committee of Congress that will attempt to come up with more cuts. If Congress doesn’t approve the committee’s plan, additional automatic cuts of $1.2 trillion would be imposed, starting in 2013.  The big issues facing Obama and Congress:

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