Tagged: Fiscal Cliff

As the federal government scrambles for a way to avoid going off the so-called fiscal cliff, a series of automatic cuts in discretionary spending, employers and industry leaders are warning that the cuts could have a significant impact on the economy of Massachusetts. WAMC’s Berkshire Bureau Chief Lucas Willard reports….

If Congress and the president cannot reach a deal to prevent it, at the beginning of January, $110 billion will be cut from discretionary spending in FY 2013. Those include cuts to both defense and non-defense spending.

Vermont Senator Bernie Sanders says cuts to Social Security should not be a part of any deficit reduction package used to avoid what's being called the looming "fiscal cliff" of automatic spending cuts and tax increases slated to take effect January first.

Sanders is a member of the Senate Budget Committee. He renewed his calls Monday for the wealthy to pay their fair share toward deficit reduction.