Wednesday, February 20, 2013

Countdown to Cuts

Two budget events are scheduled in March that are confusing messages about potential cuts to defense.  Sequestration is followed three weeks later by the end of the current funding resolution.
On March 1, sequestration is automatically scheduled to arbitrarily cut as much as $43 billion from the Pentagon's budget this year.  On March 27, the funding authorization for the existing continuing resolution (CR) runs out.  Congress is confronted with the challenge of resolving both financial conundrums before time runs out.