LOS ANGELES (CBS) — A deal to avert a catastrophic U.S. default on the nation’s debt may be just about done, but the agreement will likely translate into billions of dollars of cuts here in California.
Although Congressional lawmakers agreed to slowly phase in the $917 billion in spending cuts over the next 10 years, the most painful cuts will come first.READ MORE: Woman Suspected Of Stabbing Man Surrenders Following Standoff In Pasadena
And as KNX 1070’s Jon Baird reports, California — which receives tens of billions of dollars in federal aid — will definitely feel the pain.
“I think that we could see cuts everywhere,” said Jessica Levinson, a visiting professor at Loyola Law School who studies political reform and budgetary issues. “I think there will be a new normal in which it’s not realistic to say, ‘This sector has to remain untouched’.”READ MORE: 16,000 Students Return To Elementary Schools In Anaheim For First Time In 13 Months
Health care for lower-income residents, transportation and education sectors could all see deep cuts once the federal money is cut off.
House lawmakers on Monday voted to raise the $14.3-trillion debt ceiling by $2.1 trillion in an effort to avoid the first-ever default by the federal government.MORE NEWS: 2 Men Hospitalized After Large Explosion At Valley Glen Home
The bill now goes before the Senate, where it is expected to garner the necessary 61 votes for passage.