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US House Approves Spending Cuts
The lower house of the U.S. Congress approved a sweeping set of budget cuts that would slash government spending in order to help lower the government deficit, according to The Daily Telegraph.
The lower house of the U.S. Congress approved a sweeping set of budget cuts that would slash government spending in order to help lower the government deficit, according to The Daily Telegraph. On Saturday, the House of Representatives voted 235-189 to defy a veto from President Barack Obama and approved $61 billion in spending cuts that will affect foreign aid, school assistance, and heating and housing subsidies for the poor. The vote was largely along party lines.
The $1.2 trillion covers all U.S. Cabinet agencies through the end of the budget year on Sept. 30. The move represented a push from Republicans for deficit-cutting measures, but House Democratic Leader Nancy Pelosi warned the move would “destroy 800,000 American jobs,” and added that it would “threaten America’s innovation.”