House Majority Leader Proposes Trading Cuts for Jobless Benefits
When the Congressional Supercommittee failed to agree on budget cuts, it was supposed to automatically activate $1.2 trillion in cuts, including a slight additional decrease in the rate of growth of the military budget over the next decade. But will it?
Not if House Majority Leader Eric Cantor (R – VA) has anything to say about it. Insisting the Pentagon “cuts” would “eviscerate our ability to defend this country,” Rep. Cantor is looking to cut a deal with House Democrats to ensure that they don’t happen.
Reports say that Cantor’s deal would among other things allow the Democrats to extend jobless benefits for another year, a key issue for them, in return for seeing to it that the mandatory spending cuts don’t kick in at the Pentagon until at least 2014.
Though President Obama has reportedly threatened a veto of any effort to avoid following through with the “sequestration” cuts Cantor seems to be betting that a deal which secures considerable support from the Democrats would not be vetoed.
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