sequester

Former Deputy Secretary of Defense Ashton Carter is likely to be President Barack Obama’s nominee for defense secretary, according to administration officials. The department has had an uneasy relationship with the White House, but Carter’s ideas have influenced the administration’s foreign policy.

Mandated sequestration cuts in 2014 will compromise FBI daily operations, investigations, and the training of agents.

The Joint Chiefs of Staff warned at a Senate hearing that if the sequester of the military budget continues, sustained major combat operations will be difficult.

The media and public can’t wait to see the changes in U.S. civilian workforce statistics. After all, we all care about jobs. However, despite some interesting details, the public generally doesn’t discuss the federal government’s workforce.

While the full impact of cuts resulting from the federal sequester is still uncertain, the mayor’s budget office estimates the Central Subway project, the city’s public health programs, and services for the homeless will especially suffer.

Republicans and Democrats are likely to make some compromises on Wednesday to ease the $85 billion in government spending reductions brought in by the sequester, officials told the Associated Press (AP).

A government body thinks tax receipts will hit a nominal record of $2.7 trillion in fiscal year 2013, according to the Congressional Budget Office. Despite the increase, they remain below the historical average relative to GDP.

The automatic cuts, or sequester, that was triggered Friday, will result in a $5.5 million blow to the Small Business Administration nationwide. Small businesses in New York City employ 50 percent of the workers, according to Councilwoman Diana Reyna.

Lockheed Martin Corp. won another contract to build F-35 fighter jets just hours before the U.S budget cuts, known as sequestration, were set to take effect Mar. 1.

Lockheed Martin Corp., a major U.S weapons contractor was awarded a $333.7 million contract just moments before the sequester was set to take effect.

President Obama and congressional leaders fail to reach an agreement in a last-ditch effort to avoid $42 billion in effective spending cuts.

Two votes on Feb. 28 to thwart the sequester failed in the Senate. President Obama will meet Congressional leaders again Friday March 1, but the probability of compromise is low.

Two days before automatic budget cuts are to kick in, the blame game between Democrats and Republicans escalates.

If Congress doesn’t reach an agreement until March 1, automatic budget cuts will limit a host of Federal programs and services. Read here whether you are going to be affected.

As the sequestration deadline approaches, President Barack Obama is campaigning hard amongst middle-class Americans to push his budget plan, but so far, little progress is being made in negotiations with Republicans in Congress.