- By Tom Shoop March 1, 2013
In the end, the long-feared sequester of federal funds came swiftly and quietly.
On Friday evening, President Obama issued an order putting sequestration into effect. He was required by law to do so by the end of the day in the absence of a congressional agreement to stop the $85 billion in across-the-board-cuts.
“By the authority vested in me as President by the laws of the United States of America, and in accordance with section 251A of the Balanced Budget and Emergency Deficit Control Act, as amended (the ‘Act’), 2 U.S.C. 901a, I hereby order that budgetary resources in each non-exempt budget account be reduced by the amount calculated by the Office of Management and Budget in its report to the Congress of March 1, 2013,” Obama’s order stated. Continue reading “Obama Issues Order Implementing Sequester”