Nov. 21 (Bloomberg) -- Senate Republican Leader Mitch McConnell said the U.S. will cut $1.2 trillion from the budget over 10 years even after the failure of the 12-member supercommittee to reach accord on a bipartisan plan
McConnell indicated he supports allowing $1.2 trillion in automatic across-the-board cuts to occur, and vowed to help reshape the reductions to shield defense programs so the nation’s security isn’t impaired.
“The good news is that even without an agreement, $1.2 trillion will still be cut from the deficit,” the Kentucky senator said in a statement. “Now it falls on the president to ensure that the defense cuts he insisted upon do not undermine national security, as Defense Secretary Leon Panetta has warned.”
--Editors: Jodi Schneider, Bob Drummond
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