Obama’s fiscal commission: Cut defense spending, lose the contractors
- $4 billion in deficit cuts proposed over the next freaking decade
- $3T the cost to keep the Bush tax cuts for households that make under $250,000 over the next decade
- 3/4ths of the proposed cuts would be from the Defense Department; the rest would be from tax revenues
- 250k number of contractors whose jobs would be eliminated under the proposal, saving $18.4 billion source
» How will Congress adopt these ideas? Don’t expect a wholesale adoption of these ideas pushed forward by a bipartisan team of Alan Simpson and Erskine Bowles, but the ideas will definitely push Congress in a fiscally mindful direction.
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