Saturday, May 19, 2012

House breaks spending agreement

The National Defense Authorization Act authorizes $642 billion in defense spending next year. 
The White House has threatened to veto the bill, which passed 299 to 120
The measure also adds $8 billion more than called for in the Budget Control Act that Congress agreed to last summer in exchange for raising the nation's debt limit.
The House also wants to cut $80 billion in federal retirement benefits, nearly $50 billion from Medicaid programs and more than $36 billion from programs that feed the poor.
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