2011 budget cuts revealed
Charles Riley
CNNMoney.com Staff Reporter
NEW YORK (CNNMoney) - Lawmakers lifted the curtain Tuesday on a 2011 spending plan that will slash nearly $40 billion - cutting back on a wide range of programs and services including high-speed rail, emergency first responders and the National Endowment for the Arts.
The measure represents the single biggest cut ever made to the federal budget in one year.
It also offered the first look at the $28 billion in spending cuts lawmakers and President Obama agreed to on Friday to avoid a government shutdown.
Congress had already used a series of stopgap spending bills to target $12 billion in reductions for fiscal year 2011, which started in October and is already halfway over.
Overall, the measure cuts across a wide swath of government agencies and programs, including some favored by the president.
Especially hard hit are the Departments of Transportation, Housing and Urban Development, Commerce, Justice, Labor and Health and Human Services. They all lose billions of dollars in funding.
|
|
Filed under: 360° Radar • 360º Follow • Charles Riley |
About this Show:
Anderson Cooper goes beyond the headlines to tell stories from many points of view, so you can make up your own mind about the news. Tune in weeknights at 8 and 10 ET on CNN.
Questions or comments? Send an email
Want to know more? Go behind the scenes with AC361°
Subscribe to the podcast
On Twitter
Search the AC360 blog
I prefer to reduce the IRS rules to it's simplest form by dropping all writeoffs, but if not than this would due, all earning businesses and persons will have to pay a minimum of 10% of their gross earnings and the rest of their tax rate would have writeoffs applied as usual, no business or person would ever be able to pay less than 10% as they are allowed to do now.
Many Americans are talking about the pay rate of our government officials. It is strongly expressed that all these members take a pay as 1 way to HELP in the budget. Many have compared the numbers and are outraged that they make $170,000+ per year (depending on the level of office) while the average soldier only makes $30,000-$45,000 per year. This is a HUGE difference when considering that our military personnel are the people defending the government jobs. Without our military these officials would not even have a job and we would not even have our country. At least one third of American citizens budget, manage and raise families on $30,000 or less per year. Many are screaming, "CONGRESS, YOU TAKE A PAY-CUT!"
Being a business woman I have alot of experience with budgeting. You first calculate your revenue. If this is out of whack, you identify fixed expense. Then you start cutting. The congress has a very clear path. They are working for us. So they cut anything hat doesn't directly a not direct a direct service to the people. Everything else goes in the category of discretionry spending–so you cut it. No extra bennies for lobbyist backed. The US revolted from England for the very same reason. Taxation but no representation.
Its time for Americans to stop complaining and start asking "how can I help?"If you don't have a job or money volunteer.