Despite the $6 billion spent on this year’s election, not much changed. President Obama stayed in office. The House remained in Republican control and the Democrats retained the Senate.
And one deadline remained in place. Congress has until Jan. 2 to reach a deficit reduction agreement to avoid massive sequestration cuts that spread across the entire federal government to include a 10 percent cut of the Pentagon’s budget.
With 55 days left before the deadline, very few defense or budget analysts expect Congress and the president to reach the wide ranging deal needed to lift sequestration. Most expect Congress to either delay sequestration cuts, or allow sequestration to occur and then negotiate an agreement to lessen the cuts laid out in the Budget Control Act.
Sequestration stipulates $500 billion in cuts over the next decade for the Defense Department. These would come on top of the $487 billion cut already laid out under the defense strategy proposed by the Obama administration and delayed by Congress.
Keep reading this article at http://www.dodbuzz.com/2012/11/08/sequestration-hangs-over-election-results/
