What's Going On With the Federal Budget?

Filed under: Taxes

It has been a long, confusing summer for the federal budget. First there was the debt ceiling crisis. Then came the strange, twelve-person Deficit "Supercommittee," tasked with finding a whopping $1.5 trillion in spending cuts over the next 10 years.

The Supercommittee's recommendations -- assuming they are adopted into law -- won't go into effect until fiscal year 2013, (which begins Oct. 1, 2012). Currently, we're winding down fiscal year 2011. So what about fiscal year 2012, that begins a...

What's Going On With the Federal Budget? originally appeared on DailyFinance.com on 2011-09-02T14:20:00Z.

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http://www.dailyfinance.com/2011/09/02/federal-budget-2012-appropriations-obama-outlook/

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