Law360, New York (August 01, 2012, 10:04 PM ET) -- In its first congressional testimony on the executive branch's approach to looming, across-the-board budgets cuts, the Office of Management and Budget provided few new details that could help contractors and agencies as they struggle to plan for cuts designed to be mindless.
Sequestration, a $1 trillion series of automatic cuts that will take roughly 10 percent from all nonexempt federal defense accounts and 8 percent from all nondefense accounts, is a direct result of last summer's debt-ceiling fight in Congress and was meant as a doomsday...
OMB's Take On Sequestration Brings Contractors Little Relief
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