4. The start date of the cuts does not have to be immediate.
One of the President's most recent proposals (his "jobs" plan?) called for cuts, but they aren't supposed to go into effect for a few years. They were back-loaded to go into effect after the economy gets rolling again. I don't believe there is anything in the "debt" bill that said the cuts have to go into effect immediately. I have no doubt someone will correct me if I am wrong here.
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