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Debt ceiling deal cuts domestic spending about 5%

2 years 7 months ago
Apparently a debt ceiling deal has been reached. There's surprisingly little to it, chiefly a freezing of domestic spending in next year's budget. At a guess, this means cuts of maybe 3-4% after you adjust for inflation. In the following year, spending would increase 1%, which probably represents further cuts of 1-2% after inflation. So ...continue reading "Debt ceiling deal cuts domestic spending about 5%"
Kevin Drum