Fixing the Budget: Don't Hold Your Breath

Waiting for the election to solve America’s fiscal problems? Guess again.

Don’t expect the White House and Congress to tackle the federal budget problem soon after Election Day, no matter who wins the White House.

The conventional wisdom is that although there won’t be any action on the budget until after the November election, Congress will have to do something in a postelection lame-duck session next fall or early in 2013. Otherwise, deep and automatic spending cuts are due to take effect next year.

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Art Pine
Contributing Editor, The Kiplinger Letter