Â
Sponsored by
NATIONAL NEWS
Obama signs order to begin spending cuts
Posted: Mar 1, 2013 5:38 PM by Associated Press
WASHINGTON (AP) - President Barack Obama has signed an order authorizing the government to begin cutting $85 billion from federal accounts, officially enacting across-the-board reductions that he opposed but failed to avert.
Obama acted Friday, the deadline for the president and Congress to avoid the steep, one-year cuts.
Obama has insisted on replacing the cuts, known as a "sequester" in government budget language, with tax increases and cuts spread out over time. Republicans have rejected any plan that included tax revenue.
The government says the reductions will soon result in furlough notices to government employees and will trim government spending on defense contracts and in domestic government programs. Active military personnel and anti-poverty and low-income assistance programs are largely protected from the cuts.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
PLEASE HELP US MODERATE COMMENTS
Offensive or inappropriate comments are subject to removal. To report a comment, please e-mail us at feedback@ksby.com, and include the name of the story and information on the comment.
Thank you! KSBY.com
KSBY.COM VIDEOS
-
Moore, Oklahoma residents continue to sift through rubble left by deadly tornado
Views: 10 May 24, 2013 -
Hasay finishes 18th at regionals, fails to advance to NCAA Championships in 10K
Views: 46 May 24, 2013
Comments