House Republicans Push Spending-Cut Bill
A day after President Barack Obama unveiled his $3.7 trillion budget the Republicans in the House of Representatives are pushing for a bill that would cut the spending of the federal government. There wouldn’t be any compromise between the two groups regarding the government’s budget.
The Republican Representatives patched up the bill after several weeks of intraparty discussions. If passed, the House legislation will cut around $61 billion from the budget. The proposed cut will be equal to 14 percent cut from last year.
The House will hold several sessions to debate on the proposed legislation. Conservatives, majority are members of the Tea Party, will try to push for more budget cuts while the liberals and moderates from both parties will voice their concern on the impact of the budget cuts.
Secretary of State Hillary Clinton is concerned about the scope of the proposed cuts by Congress. The range is huge and she fears that the cuts can affect the national security. Education will be hit hard by the cuts as well. Programs that would experience significant decrease in their funding include education programs, NASA space exploration, USDA meat inspections, and agriculture research.
Democrats are warning that the level of cuts could result into a government shutdown, such as the one experienced in 1995-96.Goverment operations will stop and the financial sector might have another crisis.