Sequestration is a group of cuts to federal spending which took effect March 1, 2013. Sequestration was originally passed as part of the Budget Control Act of 2011 (BCA), better known as the debt ceiling compromise. It was intended to serve as incentive for the Joint Select Committee on Deficit Reduction (aka the “Supercommittee”) to come to a deal to cut $1.5 trillion over 10 years. If the committee had done so, and Congress had passed it by Dec. 23, 2011, then the sequester would have been averted. Obviously, that didn’t happen. The Budget Control Act originally stipulated that the sequester cuts would take effect at the beginning of 2013. A deal was reached to avert the cliff, in which the sequester was delayed to March 1. February 28th came and went without any modification bill being negotiated in Congress. The sequester automatic cuts took effect March 1, 2013.

The Scale of the Budget Divide

from The New York Times,

The Scale of the Budget Divide:

The recent agreement to reopen the government and temporarily raise the debt ceiling also set a Dec. 13 deadline for a House-Senate conference to reconcile the vastly different budgets they passed earlier this year. See how the budgets as a share of the economy compare to the one proposed by President Obama in April and to historical averages.

From The New York Times:

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