Budget Term of the Week - Sequestration
Sequestration is series of automatic federal spending cuts that occur when the government fails to achieve a set of pre-determined goals. In the current context, sequestration refers to the set of automatic across-the-board cuts mandated by the Budget Control Act of 2011 that will go into effect if Congress fails to enact $1.2 trillion in deficit reduction initiatives by December 23, 2011.
There’s a lot more where this came from. Check out A People’s Guide to the Federal Budget!
