February 20, 2013
At the end of the month, the dreaded sequester is set to take effect. Hands up if you know what exactly that means — and be honest. Don’t worry, we’re here to set you straight. Follow along for answers to some of the most-asked questions about the impending cuts.
What is the sequester?
The sequester is a group of cuts to federal spending set to take effect March 1, barring further congressional action.
Where did it come from?
The sequester was originally passed as part of the Budget Control Act of 2011 (BCA), better known as the debt ceiling compromise. It was intended to serve as incentive for the Joint Select Committee on Deficit Reduction (aka the “Supercommittee”) to come to a deal to cut $1.5 trillion over 10 years. If the committee had done so, and Congress had passed it by Dec. 23, 2011, then the sequester would have been averted. Obviously, that didn’t happen.
Continue at:
http://www.washingtonpost.com/blogs/wonk....now-in-one-faq/
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