The Annie E. Casey Foundation The Annie E. Casey Foundation

Self-Inflicted Wounds

Protecting Families and Our Economy from Bad Budget Choices

Posted April 4, 2012
By Coalition on Human Needs
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Summary

The Budget Control Act of 2011 mandated automatic spending cuts for the federal government to go into effect January 2013. This report compares the Budget Control Act’s mandatory cuts with the House leadership budget proposal, the Congressional Progressive Caucus proposed budget and President Obama’s budget and the effect each will have on the wealthy, the poor and the middle class in America. The report dissects each budget on several issues and concludes devastating consequences for the underprivileged “fiscal safety net” if these cuts go into effect. 

Findings & Stats

Statements & Quotations

Key Takeaway

Budget cuts will increase over the next decade

By 2050, most federal programs would cease to exist as a result of the cumulative effect of these federal budget cuts, according to the Congressional Budget Office. The exceptions are Social Security, health care and defense.