Friday, September 14, 2012

White House Releases Sequestration Report


On Friday, the Obama administration released a report documenting the myriad consequences of across the board cuts to both domestic and defense spending -- known as sequestration -- that are scheduled to occur early next year.
The report comes pursuant to a requirement Congress included in recent legislation, which President Obama signed into law.
"Instead of working to enact a balanced deficit reduction package to avoid the threat of sequestration, some Members of Congress are focusing on unbalanced solutions that rely solely on spending cuts or try to alter only part of the sequestration," the report reads. "These proposals do notrepresent realistic, fair, or responsible ways to avoid sequestration. Unlike the President’s proposals, they are sharply contrary to the conclusions of numerous independent and bipartisan groups that recommend a comprehensive, balanced deficit reduction package comprised of both spending cuts and revenue increases." ..........................

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