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Search Tags: sequestration
The dealmakers who warn that a year-end plunge off the "fiscal cliff" would be disastrous don't seem to be rushing to stop it. Why aren't they panicking?
Sens. Mark Warner and Bob Corker and Rep. Chris Van Hollen all believe there is at better than a 50 percent chance Congress and the White House will agree on a budget reduction plan before Jan. 1. But federal pay and benefits, and contract spending remain on the table to be part of the cuts.
Many in government are worried about the threat of sequestration, the across-the-board budget cuts set to take effect in January unless Congress and the White come up with an alternative deficit-cutting plan. But federal employee groups and sympathetic lawmakers are also concerned about such alternatives -- if they contain changes to federal employee pay or compensation. Rep. Chris Van Hollen (D-Md.) and a slate of federal-employee unions and groups are warning of such proposals in the deficit talks to replace sequestration.
As planning begins for sequestration, the military may have to cut billions more than previously imagined. DoD, like all agencies, is waiting for instruction from the OMB on how to reduce their budget.
Feds have more than the usual year end issues on their plate at 2012 draws to a close, according to Senior Correspondent Mike Causey. There is the fast-approaching fiscal cliff, the dangers of sequestration, maybe a bonus pre-Christmas holiday and, of course, the end of the world. Check it out, if you dare.
Dr. Andrew Krepinevich, president of the Center for Strategic and Budgetary Assessments, joined Pentagon Solutions for an in-depth discussion of how the Defense Department can manage budget cuts without harming its strategic goals.
If you could pick any historical event to relive, it probably wouldn't be the maiden voyage of the Titanic — that didn't go well. And now, 100 years later, federal, military and Social Security retirees are just becoming aware of a political iceberg that could punch a hole in their future benefits, Senior Correspondent Mike Causey says.
If Congress and the White House cut a last-minute deal to avoid sequestration and the fiscal cliff, some of the compromise may come out of your hide, whether you are active or retired, Senior Correspondent Mike Causey says.
In the fiscal-cliff talks, it now appears that both sides have blinked. Republicans appear willing to accept some higher taxes and Democrats seem to have agreed that Social Security's growing costs must be curtailed. Slightly and slowly. So how will the proposals affect you? Check out Senior Correspondent Mike Causey's column.