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hfojvt

(37,573 posts)
3. it is the cuts to the Federal Budget
Tue Jan 1, 2013, 12:44 AM
Jan 2013

that were part of the deal made to increase the debt limit. Automatic cuts were scheduled in both defense and social services spending unless the supercommittee came up with a plan. Since they failed, the automatic cuts were supposed to happen on January 1st. That is the spending side of the so-called "fiscal cliff".

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