Sequester myth: Drastic cuts or drop in the bucket?
By ALEX DRAGONE | March 14, 2013If you’ve happened across the news in the past few weeks, chances are you’ve heard the word “sequester,” along with its description as “devastating,” “ruthless” and “draconian.” In 2011, President Obama and Congress agreed to enact a series of automatic budget cuts if Congress failed to cut $1.5 trillion from the federal budget over the next ten years. A bit less than half of the cuts target the discretionary side of the budget — funds which the federal government isn’t legally obligated to pay — while the rest target mainly non-defense discretionary spending, and a portion of Medicare.