Sequester, Automatic Budget Cuts | featured news

House Speaker John Boehner and a top aide to President Obama are duking it out in competing columns over who is to blame for the sequester. "It is a product of the president's own failed leadership," wrote Boehner in The Wall Street Journal, nine days before the sequester -- $85 billion in automatic budget cuts -- kick in.

Ten days before a new deadline for broad, automatic government spending cuts, the sense of urgency that surrounded other recent fiscal crises is absent. Government agencies are preparing to absorb an $85 billion hit to their budgets, and politicians, at least for now, seem willing to accept the consequences...

President Obama, back from his three-day golf getaway, on Monday made use of his bully pulpit, while Congress remains out all week, to turn up the pressure for a bipartisan agreement to avoid indiscriminate across-the-board budget cuts that will otherwise hit March 1.

Congressional Democrats and Republicans appeared far apart Sunday on a deal to avert $85 billion in federal spending reductions next month, with a top House Republican saying the cuts appear “inevitable.” The automatic cuts, known as sequester, kick in March 1 because the parties have failed to agree on a less-drastic plan to cut the federal budget and deficit.