To Hell with the Law; Re-Election Is More Important

This is clearly a case of Obama placing himself above the law, then sending us taxpayers the bill. Congress passed, in 2011, the Budget Control Act (BCA), which established the Joint Select Committee on Deficit Reduction (better known as the Super Committee), whose mission was to reduce the deficit.  As an incentive to the committee, a "sequestration" process, or automatic funding cuts, will take effect in January 2013 if the committee fails to reach agreement.  The committee did not reach agreement, so "sequestration" funding cuts will begin in January.  The Defense Department is scheduled to have its budget reduced by 7.5 percent, or about $1 trillion, causing layoffs and plant closings. So what?  We've known about these coming cuts since the Super Committee failed back in November 2011. "Sequestration" has now become a major problem.  According to a memorandum from acting Office of Management and Budget (OMB) Director Jeffrey Zients, "the budget...(Read Full Article)

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