Though the fiscal cliff ordeal was somewhat successfully avoided, Washington has yet another hurdle to face in the coming months: budget talks. Back in January, the last minute deal cobbled together by Republican leader Mitch McConnell and Vice President Joe Biden raised income tax rates for those earning over $450,000. The tax hikes are expected to reduce the deficit by some $620 billion over 10 years, far less than Obama’s $4 trillion in deficit reduction goal. Though the American public might have sighed in relief, government spending was one crucial element that was not addressed in the New Year’s deal [Download Free 7 Simple & Cheap All-ETF Portfolios]. Who Gets the Axe? Come March 1, 2013 an automatic round of roughly $65 billion in spending reductions will take place if Congress does not agree on fiscal budget. Should a bipartisan agreement not be reached, the following four main areas will be cut: Military spending cuts: $54.7 billion, [...] Click here to read the original article on ETFdb.com. Related Posts: ETFs For Dividend Surprises In 2012 SPDR Attack: State Street Rolls Out More Sector ETFs Can Defense ETFs Survive A Spending Slowdown? The Next Frontier For Aerospace and Defense ETFs Boeing Evades Competition, Puts Defense ETFs In Focus
Though the fiscal cliff ordeal was somewhat successfully avoided, Washington has yet another hurdle to face in the coming months: budget talks. Back in January, the last minute deal cobbled together by Republican leader Mitch McConnell and Vice President Joe Biden raised income tax rates for those earning over $450,000. The tax hikes are expected to reduce the deficit by some $620 billion over 10 years, far less than Obama’s $4 trillion in deficit reduction goal. Though the American public might have sighed in relief, government spending was one crucial element that was not addressed in the New Year’s deal [Download Free 7 Simple & Cheap All-ETF Portfolios]. Who Gets the Axe? Come March 1, 2013 an automatic round of roughly $65 billion in spending reductions will take place if Congress does not agree on fiscal budget. Should a bipartisan agreement not be reached, the following four main areas will be cut: Military spending cuts: $54.7 billion, [...]
Click here to read the original article on ETFdb.com.
Related Posts:
