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Obama signs order authorizing sweeping set of across-the-board spending cuts, which will add up to $ 85B this year and slice into the military and other federal programs.
Obama signed an order authorizing a sweeping set of spending cuts Friday night, which will add up to $ 85B this year and will affect programs including public rent assistance, farm loans, after-school programs and commercial fishing.
Americans take huge hit in January, seeing incomes drop 3.6 percent, but now that it’s Washington’s turn to trim the budget, we get the sequester mess.
Congress effectively misses deadline to avert the automatic spending cuts, meaning sequester lawmakers have been warning about will soon be reality.
While looming budget cuts are sure to bring pain as key services are cut, some say they may at last force government to trim waste as well — already, officials are looking at reining in conferences and official travel to save money.