100 billion dollars will receive by reduction of state expenses. Half of this sum – thanks to reduction on defensive industry. The others – at the expense of social programs, in particular, what are directed to the aid of made destitute. Payments on unemployment will reduce, but social insurance will rise in price. Expenses on medical industry will decrease.
In the USA compromise searches in the problem resolution so-called «fiscal breakage» proceed. Its consequences can appear catastrophic for the country. Ineffectual debate about it proceeded not one year.
Social Insurance
If congressmen do not come to the consent this evening since January, 1st to the USA the irreversible waits: taxes will sharply raise and the State expenditure will essentially decrease. America will feel economic shock with which to consult quickly to it hardly it will be possible. If from «fiscal breakage» will leave, budgetary deficiency for 2013 will constitute 1.3 trillion dollars. Otherwise – 600 billion dollars, that is it will be reduced on 430 billion dollars. From them $300 billion will receive for the account of increase in taxes, first of all, on profit. For the American with average earnings the tax rate will grow with 10 to 15 %, for well-founded – with 35 to 39 %. The increase in taxes will concern 90 % of Americans. The family with average earnings will actually give tax for 2 000-3 500 dollars more than earlier.
Congressman Rigell discusses the Fiscal Cliff with Bloomberg's Betty Liu. Video Social Insurance
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