Many in the veteran’s community have been concerned about the effect of budget cuts to defense spending. The defense department faces significant potential budget cuts if lawmakers fail to reach an agreement on balancing the budget before sequestration provisions from a previous deal kick in.
Veteran’s benefits provide crucial support for many families and are an essential part of the overall compensation that the government provides for members of the armed forces. Especially for veterans who have a disability from their time serving in the military and are unable to work at another job, heath and financial benefits are an important support system. Recently on a campaign stop, President Obama assured members of the Veterans of Foreign Wars organization that veteran’s benefits are not subject to budget cuts.
Obama told the group of VFW members that benefits for veterans are exempt from automatic budget cuts. Health care benefits for veterans are also exempted from cuts.
The news was received with applause and cheers by the current and former service members. The reassurance will help many military families to plan for their futures and make smart financial choices that take their benefits into account.
Lawmakers are still looking for a solution to the long term budget shortfalls and the defense budget is likely going to suffer from some reduced funding.
Republican presidential nominee Mitt Romney is also expected to remark on this issue when he speaks to the VFW organization this week. Veterans are an important voting bloc in both parties and this issue has come front and center as more injured service members return from Iraq and Afghanistan.
Source: Huffington Post, “Veterans Benefits Won’t be Cut Through Sequestration, Obama Assures,” Dave Jamieson, July 23, 2012.