President Obama says he will veto any bill coming to his desk that would stop the across the board cuts in domestic spending and to the Pentagon in 2013. The President is hopeful his veto threat will force Hill leaders on both sides of the aisle to act within the year. This action comes as the Deficit Reduction Super Committee could not come to a resolution on how to cut over 1.2 trillion dollars over 10 years. The White House wanted revenue, meaning new taxes. They also felt reform of entitlement programs like Medicare and Social Security were needed along with other well thought out cuts. Meanwhile, the President contends congress has a year to find ways to strategically cut the budget without having to go to the drastic measure of automiatic across the board cuts.
PRESIDENT OBAMA PUTS THE DEFICIT AX BACK IN THE HILL LEADERS COURT
November 21, 2011 By Leave a Comment