How to cut $2 trillion, according to Taxpayers for Common Sense
Washington Business Journal
Date: Tuesday, October 2, 2012, 6:20am EDT
A new report from Taxpayers for Common Sense outlines $2 trillion in deficit-reduction steps that Congress could take in order to avoid the across-the-board budget cuts looming in January under sequestration, The Business Journals reported.
Half of sequestration's $1.2 trillion in cuts would come from defense spending. This prospect has defense contractors up in arms, touting a study that shows these cuts would cost more than 2 million jobs, nearly half of them at small businesses.
Defense contractors, however, won't like the alternative deficit-reduction planoffered by Taxpayers for Common Sense. The budget watchdog group's plan proposes a $673 billion reduction in national security spending, more than what would happen under sequestration.
Original Publication URL: http://www.bizjournals.com/washington/morning_call/2012/10/how-to-cut-2-trillion-according-to.html
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