Obama: No Long-Term Deal on Sequestration
December 31, 2012
"We're still going to have some work to do," Obama said. That work, he added, would include addressing the prospect of automatic spending cuts, known as sequestration.
Sequestration would impose cuts of 9.4 percent in nonexempt defense discretionary funding in fiscal 2013 and 8.2 percent in nonexempt, nondefense discretionary funding. Obama said that would involve cuts in everything from Defense Department programs to Head Start.