On March 1, a series of automatic budget cuts amounting to $85-billion, also known as the ‘Sequester’, came into effect after the US Congress and President Barack Obama were unable to agree on an alternative deficit-reduction plan. Having avoided the much-feared ‘fiscal cliff’, it is still unclear what failure to avoid sequestration will mean for the US and the rest of the world. But Obama has indicated that government agencies will need to make some “very difficult decisions”.
Engineering News
https://www.engineeringnews.co.za/article/cliffs-sequestrations-2013-03-15