|Fort Sheridan, Illinois|
From ABC News:
White House officials today acknowledged that they had not met the deadline to outline how the president would make the defense cuts required by law to be made because of the failure of the bipartisan, poorly-named Super-committee to agree on $1.5 trillion in deficit reduction over the next ten years.Technorati tags: news government yes we can dnc business military
Because of the failure of the Super-committee, a self-imposed sword of Damocles will fall, requiring $1.2 trillion in spending cuts that neither Democrats nor Republicans desire, specifically $109 billion from Pentagon and domestic spending in just the next year.
In the fine Washington tradition of never giving anything a name that makes sense to anyone outside the 202 area code, these cuts are called the “sequester.”
One month ago, the president signed the “Sequestration Transparency Act,” a law that imposed upon him a 30 day deadline to outline what Pentagon spending will be cut. That deadline was last night.