Budget Control Act of 2011 – Sequestration Clauses
There’s gonna be an interesting hit come the end of this year.
The “sequestration” effects of the Budget Control Act of 2011 start coming into effect.
Of course that’s $1.2 trillion in cuts from both military/defense and social spending, spread out over the next 10 years. Which really mean curbs to growth in spending, not actual cuts.
But with a larger population, more people struggling, and more elderly people to take care of, that will effectively be a cut for social programs.
That said, it is interesting (spending-wise) that the military budget has continually been INCREASED even after “withdrawal from Iraq” and the killing of Bin Laden – not decreased.