Our World

The Budget Deficit Act of 2005

Back in December, Vice President Dick Cheney was flown back to Washington from Pakistan in order to cast the decisive vote on the president’s Deficit Reduction Act of 2005. The republicans won with 51-50 votes. The act is meant to reduce the budget deficit (which is predicted to reach $365 billion), but according to the January 26 issue of The Rolling Stone, it will create a $50 billion increase in the deficit. It also seems as though most of working-class America will be the ones paying up. The Deficit Reduction Act of 2005 will affect single moms, the sick, foster parents, the working poor, and college students. Reportedly, 1/3 of the cuts will affect student-loan programs in a time when public colleges are already raising their tuition.

My reaction to “The Deficit Life” article was upsetting, especially the figures relating to college students. The price of college is increasing at a ridiculous rate, and I’m sure in the years to come students will pay as much in loans as they will for college itself. It was also hard to read about how the Deficit Reduction Act will seem to have a negative impact on many middle and low class working families.

Because my source was a magazine, I don’t have a link to the article, sorry.

posted by Anonymous @ 2/05/2006 04:06:00 PM