Defense Department Budget
“Sequestration,” a legal procedure in which automatic budget cuts are triggered, was agreed to in the Budget Control Act of 2011. The budget cuts and simultaneous automatic tax increases would have created a “fiscal cliff” if they took effect January 2013. The sequestration date was delayed until March 2013 as part of a “fiscal cliff” agreement.
Secretary of Defense Leon Panetta and Joint Chiefs of Staff Chair Martin Dempsey briefed reporters. Secretary Panetta focused on the upcomin… read more
Secretary of Defense Leon Panetta and Joint Chiefs of Staff Chair Martin Dempsey briefed reporters. Secretary Panetta focused on the upcoming $500 billion budget cut under the delayed sequestration plan and said the prospect of the sequestration was “undermining the ability to manage” the department. He laid out specific reductions he would have to make if the budget cuts occur at the beginning of March 2013. Other topics included Afghanistan President Hamid Karzai’s visit to the U.S. and President Obama’s nomination of former Senator Chuck Hagel for defense secretary.
“Sequestration,” a legal procedure in which automatic budget cuts are triggered, was agreed to in the Budget Control Act of 2011. The budget cuts and simultaneous automatic tax increases would have created a “fiscal cliff” if they took effect January 2013. The sequestration date was delayed until March 2013 as part of a “fiscal cliff” agreement. close
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