Chancellor Block Among Signatories to Anti-Sequestration Letter
California has its budget trigger cuts about which we have written on this blog. At the federal level, you will be hearing more as time goes by about “sequestration,” a kind of trigger cut mechanism Congress created to give it an incentive to enact a “grand bargain” on federal spending and the federal deficit. Basically, if no such bargain is reached, massive defense and non-defense cuts go into effect on January 2. The idea was that the thought of such cuts would be so frightful that Congress would concoct a grand bargain instead. It hasn’t worked so far. (But these…
