Article written by Prieur du Plessis, editor of the Investment Postcards from Cape Town blog.

The Republican Study Committee on Thursday released its bill on spending cuts, including trimming funding to AmeriCorps and Senior Corps, an end to union activities for Federal employees, and numerous other cuts. The “Spending Reduction Act of 2011” calls for a total of $2.5 trillion in cuts and aims to bring the U.S. back to the level of spending of 2005 in a short period of time, as reported by Business Insider – Clusterstock.

Although the bill is a long way from being passed, the fight for austerity is on. The chart below tells the story.

Source: Business Insider – Clusterstock, January 21, 2010.

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Picture du Jour: GOP’s dramatic proposed spending cuts was first posted on January 22, 2011 at 10:50 am.
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