Tuesday, June 8, 2010

Where are the jobs?

Who needs a debt commission when White House Chief of Staff Rahm Emanuel is on the case? He wants to allow federal agencies to redirect half of any 'unnecessary', money in their budgets to other initiatives and half to deficit reduction. Currently, agencies must return all money they don't spend, giving them an incentive to spend it all. Let's say Congress goes along: The move would 'affect' all of about $25 billion a year, according to The Wall Street Journal.

In May alone, the deficit was $142 billion.



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