What is sequestration, where did it come from, and how does it affect us?
Listen in as Rob and Jim discuss sequestration and what it really means.
Sequestration is a term used to describe mandatory federal spending cuts that correspond with federal government income (taxes) in an attempt to limit the budget deficit. In other words, it attempts to keep the legislature from spending more money that they don’t really have.
This article gives more detail about exactly how the cuts work and what programs they are applied to: Washington Post
Sequestration does not cut all federal government programs evenly across the board. Certain programs like Medicaid, Social Security, and WIC are exempt from the spending cuts.
This year’s spending cuts(2013) reduce the defense budget by 7.9%($42.7 Billion). The majority of the cuts supposedly eat into “Discretionary” spending.