The Debt Ceiling, Sequestration, and the Fiscal Cliff
Topic: Risk Management
Original Air Date: Thursday, October 18, 2012
Program Code: 170067
With the 2012 presidential election months away, government agencies and contractors continue to speculate about the possible effects of sequestration. Whether sequestration will actually occur is unknown, as Congressional legislation and presidential approval of alternative deficit reductions could dramatically curb, if not eliminate, the effects of sequestration. If sequestration does occur, however, the Congressional Budget Office estimates that eligible defense programs will be cut by 10% and eligible non-defense programs will be cut by 8.5% in fiscal year 2013. Consequently, contracts should commence preparations for the possibility of drastic cuts in federal spending and position themselves to navigate in an environment of tighter budgets and increased competition.
Missed the live event? Watch a snippet directly from the presentation!
- Background on sequestration;
- The possible impact on government contractors and the procurement process; and,
- Identifying key steps government contractors can take to prepare for sequestration
Paul A. Debolt
Paul Debolt assists companies and individuals on all issues that arise from doing business with the federal government, including civil fraud. He is experienced in the competitive source selection process, defending or prosecuting bid protests, issuing advice concerning compliance with government regulations and laws during the performance of a contract, and helping to resolve disputes and claims during contract performance or as a result of contract termination. Mr. Debolt also has significant experience with due diligence in connection with the merger and acquisition of government contractors, as well as post-transaction matters such as novations. He counsels clients on the Service Contract Act, the Civil False Claims Act, joint venture and teaming agreements, prime-subcontractor disputes and internal investigations.
Mr. Debolt has extensive government contracts law experience and applies a team approach which ensures that clients receive the benefit of firm-wide strength in all related areas.
John F. Cooney
John Cooney focuses on economic regulatory, administrative, and constitutional litigation involving federal agencies at the trial and appellate levels. His areas of experience include financial services, white collar defense, environment, and separation powers. Mr. Cooney has 35 years of experience in regulatory policy making and regulatory litigation. He served as Assistant to the Solicitor General, Department of Justice, and as Deputy General Counsel for Litigation and Regulatory Affairs, Office of Management and Budget. Mr. Cooney served as counsel for OMB's Office of Information and Regulatory Affairs, which reviews agency regulations on behalf of the President, and was involved in policy disputes involving legal interpretation of most major federal regulatory statutes.
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