Monday :: Jan 2, 2012

Our Own Austerity Program

by Mary

The New York Times editorial points out the damage being done to the USA from the deficit wars that ruled Washington in 2011 as nondefense discretionary spending is being slashed to the bone.

In the 1970s, nondefense discretionary spending represented about 5 percent of the gross domestic product; that is now down to about 2.5 percent. Over the next decade, once the new cuts go into effect, it will decline to less than 2 percent. This year’s spending bill, signed into law a few days ago, is roughly 10 percent lower than last year’s, cutting Pell grants, environmental programs and aid to desperate states. Low-income heating assistance was cut by 25 percent.

Evidently the things that help ordinary Americans have to be destroyed so the 1% can keep their own money to help themselves.

Mary :: 1:23 PM :: Comments (1) :: Digg It!