Economy

CHART: Domestic Spending Already Projected To Hit Historic Lows

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With the elections over, Congress’ next task (even if the choice is to do nothing) is dealing with the so-called fiscal-cliff, the set of spending cuts and tax increases scheduled for January 1st. Speaker of the House John Boehner (R-OH) has already ruled out raising taxes on even the richest Americans. But non-defense discretionary spending, the money which Republicans always insist on slashing, is projected to hit historically low levels even without further cuts, as this chart from the Center on Budget and Policy Priorites shows. Simply put, these measures are already baked into the cake, yet Republicans may soon be calling for more:

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