Reply to "The Fiscal Cliff"

Forum Index » Political Discussion

Reply to ""The Fiscal Cliff""

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]What is it?[/quote]

A nickname for a budget procedure called "sequestration." Congress resolved the debt ceiling debate by putting the federal budget on a course for automatic, across-the-board cuts to the entire federal budget. The super committee was supposed to come up with a plan that would make cuts in a more targeted fashion that would preserve priority areas, but they could not agree. So, starting on January 1 the federal government will be cut by just shy of 10% - across-the-board - unless Congress and the President can rescind the law and come to some other agreement.[/quote]

Does this mean 10% cut for every agency?[/quote]

Give or take, yes. It's not entirely clear yet. Probably will be less (like 8.2 or 9.4) but no one really knows exactly. As I tend to be pessimistic, I always plan for the worst so I am figuring on about 10.[/quote]

But this doesn't apply to the ones that are self-funded??[/quote]

Re self funding, probably depends on the exact mechanism but the legal view in my Department is that user fees (a type of "self funding") would be subject to sequestration.  The agency would collect the fees are then a certain percentage would go immediately to Treasury.[/quote]

Not if the law allows for the agency to keep all fees, right?[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics