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Search Tags: sequestration
Sequestration is officially a reality for federal employees and agencies. President Barack Obama signed the sequestration order into effect Friday night. After more than 15 months, fierce debate and a delay at the beginning of the year, the $85 billion in automatic, across-the-board budget cuts are officially here. Find out what steps civilian agencies and the Pentagon are taking, including employee furloughs. Plus find out what comes next in terms of negotiations between the White House and Congress.
Small firms already have taken a disproportionate hit from DoD's pullback in 2013 spending, Pentagon officials say. Military acquisition leaders worry the sudden cuts will bankrupt small businesses that provide one-of-a-kind capabilities.
If there is a partial shutdown of government services, now or later, politicians will blame each other. But the big losers will be federal workers in IRS and Social Security offices, and TSA screeners at airports who are going to take the heat, Senior Correspondent Mike Causey says.
On this week's Bloomberg Government Capital Impact show, analysts will discuss sequestration and its impact on Congress.
February 28, 2013
The Internal Revenue Service and the Social Security Administration — two of the largest federal agencies with very public missions — are taking divergent paths when it comes to dealing with the automatic, across-the-board budget cuts known as sequestration. IRS says it is planning for five to seven furloughs days, while SSA says it hopes to forego furloughs through alternative savings.