CNN Explains: Sequestration
February 6th, 2013
04:54 PM ET
2 years ago

CNN Explains: Sequestration

(CNN) - Here we go: A new round of confrontation between the White House and Congress over the federal budget is in the offing, this time in a new attempt to avert the looming "sequestration" process.

What is sequestration?

FULL STORY

Filed under: Budget • Congress • President Obama
soundoff (6 Responses)
  1. Sniffit

    "But, he added, "Americans do not support sacrificing real spending cuts for more tax hikes.""

    Elections matter, Captain Orangeglow.

    February 6, 2013 04:58 pm at 4:58 pm |
  2. Name lynn

    budgets cut, hitting the poor an middle class. the white house leaders dont care for no one but themselves. As long as them white house leaders getting their money they dont care.

    February 6, 2013 07:03 pm at 7:03 pm |
  3. confused

    Sort of like how a single 22 y/o white mother of 3 wouldnt appreciate welfare cuts, or a single 20 y/o black mother of 2 wouldnt appreciate food stamp reductions. (examples are taken from respective website statistical polling)

    February 6, 2013 08:56 pm at 8:56 pm |
  4. Wes

    This was all the uhbamas idea. Can't blame President Bush on this one.

    February 6, 2013 11:44 pm at 11:44 pm |
  5. J.V.Hodgson

    I have simple solution to this nonsense.
    Obama leads as he is always demanded ( by GOP to do so) so let the sequester take effect. Unless Obamas budget ideas are agreed, being:-
    1) Corporate taxes reduced from 35% to 28% from 2013/2014 and finally in 2015/2016 become 28%. But all corporate tax loopholes and breaks removed. Its paid for via BushII research.
    2) The kicker is it allows the temporary tax revenues increase to be spent on infrastructure , education while creating jobs but not increasing budget deficits or debt but growing GDP.
    3) Use the Romney plan of " capping" Income tax allowances. Such things as mortgage relief and child allowances, can only be offset against earned income ( not dividends or capital gains) and if you have multiple homes you get taxed for property tax at 1, 2. 3. 4, 5 times the property tax , in the state where you have NO,2.3.4.5 home in those states. Mortgages in excess of $1m on all properties get no relief, only up too $1m. Tell you what a lot of mr/ mrs averages mortgages will soon be above water not under
    4) take uo the house defense cut of $25bn pa and offer the same in dicscretionary spending from Democrats.
    5) longer term review of medicaid and medicaid to be complete by Dec 2013 for inclusion in 2014/2015 budget obviously reduced cost or spending.
    We have to move forward ang give the local business and international community the idea we are dealinf with the problem and not stuck in ideology on either side.
    Regards,
    Hodgson.

    February 7, 2013 04:44 am at 4:44 am |
  6. LibParrots

    So, you want to pay higher taxes sniffit? I doubt it. I'm not surprised though that the democratic position is anyone who makes more than I do should pay more. The "gimme mine" culture of liberal democracy.

    February 7, 2013 07:42 am at 7:42 am |