FarmPolicy

August 20, 2018

Budget; Farm Bill; Livestock Production; and, Trade

Categories: Budget /Farm Bill /Trade

Budget Issues

Zachary A. Goldfarb reported in Saturday’s Washington Post that, “President Obama acknowledged Friday that deep federal budget cuts are here with no end in sight, an outcome that he warned would harm the economy but said he lacked the power to stop.

A final attempt to find common ground with congressional leaders at a White House meeting proved fruitless. The president continued to press for higher taxes as part of a deal, and Republicans continued to refuse — clearing the way for $85 billion in cuts this fiscal year and $1.2 trillion over the next decade.

“The reductions, which Obama formally ordered late Friday, are likely to remain in place for the foreseeable future. There had been speculation that they might be adjusted later this month, when lawmakers must agree on a new deal to fund the government or risk a shutdown. But Obama made clear Friday that he would seek to avoid a shutdown even if that means allowing the across-the-board cuts, known as the sequester, to continue.”

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