Sunday, January 27, 2013

U.S. House budget chief: automatic spending cuts "going to happen"

Automatic spending cuts postponed at the start of the year will go into effect as scheduled in March but "no one" is talking about allowing a U.S. government shutdown, the Republican House of Representatives Budget Committee chairman said on Sunday.

The automatic spending cuts had been delayed by two months as part of the deal to avoid the "fiscal cliff" of tax hikes and deep spending reductions - known as sequestration - that had loomed at the beginning of this month.

http://www.reuters.com/article/2013/01/27/us-usa-fiscal-ryan-idUSBRE90Q0FN20130127