Jan 28, 2013 No Comments ›› Spit Stixx
(CNSNews.com) – House Budget Chairman Paul Ryan (R.-Wis.) says if he and Mitt Romney had won the election, the deep, forced spending cuts known as sequestration would not happen because he and Romney would have worked with Democrats to arrive at a deficit-reduction deal.
“I think the sequester is going to happen,” Ryan told NBC’s “Meet the Press” on Sunday. He said the nation can’t afford to lose the automatic $1.2 trillion in spending cuts through 2021. Those cuts, he said, were intended to pay for the 2011 debt ceiling increase, never mind the one now looming.
Under recently passed legislation, Congress has until March 1 to agree on deficit reduction, and if it doesn’t, the Defense Department will be forced to cut $55 billion every year through 2021, and the same amount ($55 billion) automatically would be cut in non-defense spending.