Monday, August 22, 2011

Will there be Spending Cuts in the Continuing Resolution?

The majority of economists surveyed by the National Association for Business Economics believe that the federal deficit should be reduced only or primarily through spending cuts.

It looks like we have a consensus for The Next Crisis:

The date will be on or about September 30th. The issue will be the need to pass a Continuing Resolution by the House.
For more than 850 days the US has gone without a budget. The House passed one not long ago; the Senate tabled it. The Administration has not offered up one either. The absence of an approved budget means that the only way the country can continue to operate is through a series of temporary extensions.

Of course, looks can be deceiving. While spending cuts would be nice in the next continuing resolution (CR), there wont be any of any significant size.

1 comment:

Joe Steel said...


Business economists?

They're paid stooges. Who cares what they say.