Thursday, January 31, 2013

The Sequester. The law passed to reduce the National Debt hangs in the balance until March.


January 31, 20131:06 p.m.

Obama is expected to swiftly sign the legislation as lawmakers gear up for the next budget showdown: deep automatic spending cuts that will begin to hit the economy on March 1 if nothing is done to stop them.
The $1.2 trillion in cuts had once been considered so severe they would force Congress to the negotiating table to devise an alternative deficit-reduction strategy.
But with a month to go before the cuts begin, Congress appears unable to reach a compromise over tax and spending alternatives....