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spending cuts

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President Obama says $85B in spending cuts WILL kick in Friday as leaders FAIL to compromise on replacement plan

Read more: http://www.dailymail.co.uk/news/article-2286623/Sequester-President-Obama-says-85B-spending-cuts-WILL-kick-Friday.html#ixzz2MKVnklv3

just like it is going on in the uk spending cuts in the usa now

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Personally, I think it is a bunch of smoke and mirrors.

It is like my boss used to say - "well we lost money on that job: But what he really meant was - we didn't make as much as he budget. We actually "made" a profit. This is the same. They will spend more this year than last, but they won't spend as MUCH as they would liked to spend.

http://en.wikipedia.org/wiki/United_States_federal_budget actually does a great job at explaining all of this.

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