Spending cuts will affect nearly every federal agency

The largest domestic spending cut in U.S. history will upend almost every federal agency and slash programs dealing with healthcare, transportation and education, but will give the Pentagon an extra $5 billion, according to aides familiar with the negotiations, reports the Los Angeles Times. It preserves funding for some of President Obama’s cherished initiatives, including the healthcare and Wall Street overhauls and his education program, Race to the Top. But four of the president’s policy czars get the ax: healthcare, climate change, cars and urban affairs…

Click here for the full story

…Read More