About that Federal Budget Sequester...

The Center on Budget and Policy Priorities has a table showing how the fiscal cliff deal reduced the 2013 federal budget sequester, automatic across-the-board cuts now scheduled to take effect March 1. The cuts had originally been slated for January 2, but the fiscal cliff deal delayed them.

As the table at the Center's Off the Charts Blog shows, more than $85 billion in sequester cuts are still on tap for 2013 unless Congress acts.

Fiscal Cliff Deal Reduces Automatic Budget Cuts for 2013

Richard Kogan explains at Off the Charts:

The deal sliced the scheduled 2013 sequestration by $24 billion, from $109.3 billion to $85.3 billion. This reduces the percentage cuts in full-year funding for most eligible programs (those that the law does not exempt from the automatic cuts). The Medicare percentage does not drop, however, because Medicare cuts were and are still capped at 2 percent, and the across-the-board cut that applies to other non-defense programs remains larger than 2 percent.

We have also adjusted the figures to reflect the extension of Emergency Unemployment Compensation in the fiscal cliff deal and the likely enactment of additional disaster funding in response to Hurricane Sandy. Both sources of extra funding are subject to sequestration, which spreads the scheduled cuts more broadly.

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