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Washington Journal Examines the 'Fiscal Cliff'

Washington, DC
Monday, December 10, 2012

Each weekday morning the Washington Journal highlights specific taxes, deductions and budgetary programs that will be impacted if the country goes off the so-called “fiscal cliff.” Monday, we look at potential defense cuts under the sequestration.

Bloomberg Government Senior Defense Analyst Robert Levinson takes a look at how the process known as sequestration could affect the nation’s defense budget and national security policy. 

Then, Former White House Associate Budget Director for National Security Gordon Adams and Lexington Institute Vice President Dan Goure discuss how the process known as sequestration could affect the nation’s defense budget and national security policy.

Sequestration is the term used to describe the automatic budget cuts totaling about $1.2 trillion over the next 10 years – including about $500 billion in defense spending -- that would be triggered in early January, 2013.  The sequestration cuts were agreed to as part of last year’s debt ceiling agreement that resulted in the Budget Control Act of 2011. 

The cuts will go into effect barring any change in legislation.

Updated: Monday, December 10, 2012 at 10:07am (ET)

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