Question of the Week: Will There Be Spending Cuts?
The recent fiscal cliff deal avoided tax increases, but did not address spending cuts.
Although the recent deal to avert the so-called "fiscal cliff" has prevented tax hikes for the vast majority of Americans, there are still many financial problems looming on the horizon.
The deal avoided discussing spending cuts, which are necessary to rein in the country's roughly $16.4 trillion debt.
The deadline for sequestration-across the board spending cuts-has been pushed back to March 1, which is also the deadline to raise the debt ceiling.
If sequestration goes into effect, the Department of Defense will see deep cuts, which may affect troop readiness and could see the furlough of civilian employees.