Spending Cuts Are Hurting The Economy
The two-week U.S. government shutdown may have ended and the U.S. didn’t default on its debt. But the deal passed by Congress late Wednesday night allows the series of unforgiving budget cuts, also known as sequester, to continue through Jan. 15.
That’s not good for the economy.
The nation has been operating on a shrunken budget, slashed by $80 billion in forced spending cuts since March 1. And already, the so-called sequester has dragged down economic growth, experts say.