â¿¿A key reminder: Social Security, Medicare and veterans' benefits, Medicaid and a host of other benefit programs are exempted. The cuts take effect over a seven-month period; they don't all crash ashore on March 1. If a bipartisan deal to ease them is reached, lawmakers could restore some or all the money retroactively.â¿¿On the other hand: Left in effect, these cuts are real even though their program-by-program impact is unclear. The law limits the administration's flexibility to protect favored initiatives, but the White House has told agencies to avoid cuts presenting "risks to life, safety or health" and to minimize harm to crucial services.
Budget Cut Warnings May Prove Harsher Than Reality
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