The failure of the Congressional “super-committee” to achieve consensus on reducing the U.S. budget deficit by $1.2 trillion over the next ten years will trigger automatic cuts in federal expenditures. This will have profound implications for the world, the nation, and the Potomac Communities.
As things currently stand, half of the budget cuts are to come from non-defense expenditures, the other half from the defense budget. If these cuts were to happen, not only would government services we have come to rely on be affected, but we would also run the risk of limiting our military and diplomatic options in an unsettled world.
To understand the magnitude of the budget issues our nation faces, let’s look at a few facts. An astonishing 44 percent of all Americans receive some kind of federal government benefit. These benefits include such things as student loans, mortgages, veterans’ benefits, social security, Medicare, and Medicaid, just to name a few. The salaries and pensions of civilian and military federal employees are part of these expenditures too. Any effort to freeze or curtail them could impact our area.
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