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Now that automatic budget cuts are set to begin today, how will Democrats and Republicans balance the budget for the upcoming year?
Automatic spending cuts are scheduled to begin today, and congressional republicans are still unwavering in their stance that the sequester will have minimal effects. However, White House economic adviser Gene Sperling says that the cuts will be felt over time. Both parties have been discussing how to make up these funds, and it is unclear what will happen next. Also, there’s a new deadline of March 27, when federal government funding stops.
Will Democrats and Republicans again be at odds on how to balance the budget? Will the government raise taxes to combat the budget cuts? Does there need to be a tax increase to fund the government?