Budget Panel Taking Up Spending Cuts as Expectations Low
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A new congressional committee, working against a deadline for a budget agreement, most likely will turn to limited spending cuts and revenue increases while doing little to slow long-term growth of the nation’s debt.
Revisiting a three-decade history of failed attempts to force long-term debt reduction, the panel of House and Senate members will meet Oct. 30, with little more than six weeks to reconcile their differences over taxes and spending.