White House Misses Sequestration Report Deadline

Law360, New York (September 7, 2012, 7:37 PM EDT) -- The White House missed a legislated deadline Thursday to report on its plans for implementing sequestration, a series of across-the-board budget cuts set to kick in Jan. 2, prompting congressional Republicans to criticize the president for a failure to show leadership.

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 scenario...
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