Grinding to a Halt

crowlejt's picture
Recently, there’s been some talk in Washington about automatic spending cuts. In theory it’s a good idea, but before we start cranking out the praise, let’s take a moment to remember Congress’ history of throwing wrenches into it’s own “automatic” mechanisms. In 1997, Congress enacted the Sustainable Growth Rate (SGR) formula to automatically cut the growth in Medicare payments to physicians. However, these cuts only went into effect for one year; in every year since, Congress has increased those payments. Automatic? Hardly.
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http://www.bankruptingamerica.org/infographic/grinding-to-a-halt/#.U0LOTKhX-uZ
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