Virginia budget cuts ordered

To help battle the looming federal fiscal crisis and a lagging recovery, Virginia Governor Bob McDonnell has ordered state agencies to cut budgets by four percent.

McDonnell cited the so-called "fiscal cliff" and worries Congress won't agree on debt reduction in time to avert deep, across-the-board cuts that would begin January 1. 

He is calling for the agencies to begin plans for the cuts immediately.

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