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Wednesday, December 21, 2005

 

Spending Cuts Bill and what it means - The bottom line

Abe Lincoln's Vision and How the System Really Works
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They did it. VP Cheney cast the tie-breaker vote to pass the bill to reduce the budget deficit. Applause, grinning faces in the Republican side of the aisle. They got what they fought for. What their victory means and how they won it.

"......that government of the people, by the people, for the people, shall not perish from the earth." Lincoln's Gettysburg Address, November 19, 1863.

The Washington Post: According to budget experts, the bill would barely dent the federal deficit, cutting less than one-half of 1 percent from an estimated $14.3 trillion in federal spending over the next five years. Opponents said the poor would bear the brunt of the cuts -- especially to Medicaid, child support enforcement and foster care -- whereas original targets for belt-tightening, such as pharmaceutical companies and private insurers, largely escaped sanction.

From the Los Angeles Times:
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