Editorials
As the U.S. edges closer to the sequestration stipulated in the Budget Control Act of 2011, debate is heating up between President Obama and the House Republican leadership about how to avoid the “fiscal cliff.” Originally conceived as a perverse incentive for Congress to agree on an acceptable debt-reduction solution, the Act stipulates an automatic spending reduction of up to $1.2 trillion of the federal budget on Jan. 1, 2013 if a budget compromise cannot be reached before that time. While politicians on both sides of the aisle badger on about the need for a grand compromise of revenue increases and spending cuts, it is clear that any austerity deal that puts the overall health of the economy at risk is unacceptable for America’s college students.
By
the Editorial Board
December 6, 2012