Given the historic nature of this week’s historic agreement to cut federal spending historically, we thought it would be useful to provide you with a FAQ on the deal:
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Q: Yes, but how severe?
A: So severe, you could even say they were sharp.
Q: Could you put a number on that?
A: Sure, the initial cuts amount to $917 billion!
Q: Well, that’s not too bad, but we’d still run a deficit next year.
A: That’s not $917 billion next year, that’s $917 billion over ten years.
Q: That’s barely $90 billion for 2012, then.
A: More like $22 billion next year. The really historic, sharp, severe cuts take place much later.
Q: This doesn’t sound very convincing.
A: Just take a look at this chart and you’ll understand.
Q: I thought you said there were cuts.
A: There are! Look at them. We’re not sure how we’re supposed to run a government with cuts like these.
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