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You are here: Home / Government Contracting News / OMB plans for automatic cuts, urges Congress to find sequestration alternative

July 17, 2012 By AMK

OMB plans for automatic cuts, urges Congress to find sequestration alternative

Sequestration doesn’t threaten only national security. Critical infrastructure and domestic programs also face a budgetary “brick wall” early next year, according Jeff Zients, the acting head of the Office of Management and Budget.

The 2011 Budget Control Act is scheduled to trigger across-the-board cuts of nearly 8 percent off federal spending beginning January 2013 if lawmakers can’t agree on an alternative. The cuts will bring government outlays to their lowest levels since the Eisenhower administration, Zients wrote on Politico.com, emphasizing the upcoming budget sequester was intended to be a means to encourage responsible bipartisan deficit reduction, not to force “destructive” cuts to the federal government.

Keep reading this article at: http://www.govexec.com/management/2012/07/omb-plans-automatic-cuts-urges-congress-find-sequestration-alternative/56728/?oref=govexec_today_nl.

Filed Under: Government Contracting News Tagged With: budget cuts, DoD, FAA, FBI, OMB, sequestration

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