Sequestration: A Tale Of Unrequited Patriotism

Law360, New York (November 5, 2012, 4:35 PM EST) -- Sequestration is slated to start Jan. 2, 2013. Under the terms of the Budget Control Act of 2011, the Office of Management and Budget must trim $1.2 trillion evenly from the budgets of civilian agencies and the U.S. Department of Defense from 2013 through 2021, an annual reduction of $109 billion.

In a report issued on Sept. 14, the OMB started that process, providing initial estimates of what, exactly, would be sequestered from discretionary programs (i.e. nonentitlements) in the 2013 budget, including approximately $54 billion spread...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.