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U.S. budget cuts more scrapes than stabs

Reuters Breakingviews delivers agenda-setting financial insight. Its global correspondents react to stories as they develop, delivering sharp and provocative commentary on big financial news as it breaks.

For all the rhetoric from both political parties, the impending U.S. budget cuts are more a blip than a bomb. An initial $100-billion (U.S.)-worth of federal spending reductions won’t do much real damage to the growing economy.