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The debt 'super committee' and defense cuts

August 17, 2011 • Vistas

Veterans and active duty military need to watch current congressional and presidential debt reduction proposals very carefully. The following warning is being issued by the Association of the United States Navy (AUSN) and Military.com.
The debt deal “agreement” sets a course for future reductions in federal spending. But the compromise is remarkably minuscule on details and relies largely on the budget cutting recommendations of a recently named congressional “super committee.” The “deal” reflects the inability of Congress and the White House to come to terms with spending cuts.
Some known facts about the debt deal:
• Enacts $900 billion in federal spending cuts over 10 years and cuts include $350 billion in ‘savings’ from the base defense budget already agreed upon earlier this year.
• Authorizes the President to increase the debt limit by at least $2.1 trillion, eliminating the need for further increases until 2013 (conveniently after his re-election campaign).
• Establishes a congressional bipartisan joint committee, referred to as the “super committee,” tasked with identifying an additional $1.5 trillion in debt reduction, including discretionary (pay Login to read more

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