The Joint Select Committee on Deficit Reduction, often called the “supercommittee,” met for the first time last Thursday. The 12-member committee is tasked with trimming $1.5 trillion from the federal budget over the next 10 years, and they must make that decision by Thanksgiving.
If a decision cannot be made amongst the bipartisan committee, $1.2 trillion in cuts will automatically begin taking effect.
According to an article by the Associated Press, which appeared on the Washington Post’s Federal page,
Before 2009, the deficit had never come close to $1 trillion in a single year. The government last recorded a budget surplus in 2001, when revenues were $127 billion greater than spending. The surpluses were expected to total $5.6 trillion over the next decade.
But instead of that projected surplus, the country now finds itself in a $1.23 trillion deficit as of August. A further rundown and reasoning behind the federal budget crisis is given, and includes blame from both sides of the aisle.
No matter how you align yourself politically, and no matter how the blame is distributed, the fact is that cuts will be made to the federal budget.
But with $1.2 trillion in cuts to be made over the next 10 years by this “supercommittee,” I wonder, are there ways to avoid buyouts or layoffs?
Can we “trim the fat” over the next 10 years without jeopardizing jobs? What would your suggestions be to salvage federal jobs?
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