Friday, April 15, 2011

2011 U.S. Budget Bill Approved

The U.S. bill designed to cut $38 billion in spending for the remainder of 2011 was approved by Congress yesterday. The bill is a step toward reining in the federal budget. The U.S.’s next focus will be on next year’s federal budget plan and will have to involve a vote on raising the federal debt limit. Without debt restructuring or a raise in the debt ceiling the U.S. will default on federal debt payments by mid-May.

New York Times, April 15, 2011

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