Sequestration Breakdown: What $1.2 Trillion Looks like in Small Business Terms
February 21, 2013
Congress and the administration are down to their final week to strike a deal to avoid or delay the automatic budget cuts known as “sequestration,” and with both parties already pointing fingers rather than working on a compromise, the cutbacks appear inevitable. Should neither side budge, the federal government on March 1 must start making cuts that will slash spending over the next decade by $1.2 trillion.
That’s a lot of money—but just how much exactly?
In an effort to put the figure in context, we crunched some numbers from the Internal Revenue Service, U.S. Census Bureau, Small Business Administration and several other sources of data for companies on Main Street. Here’s what we discovered about the cost of sequestration.