A news update on the impending activation of sequestration included video from earlier in the day of House Speaker John Boehner speaking to reporters after meeting with President Obama about the automatic spending cuts scheduled to begin that day and a video clip of President Obama later speaking to reporters in the White House briefing room.
As part of a deal for raising the federal debt ceiling, the Budget Control Act of 2011 created sequestration on January 1, 2013, automatic spending cuts that are split 50/50 between defense and non-defense spending unless Congress would pass an alternate deficit reduction plan.*The cuts had been delayed until March 1, 2013, as part of a “fiscal cliff” agreement on the debt ceiling and tax increases.