Is the Budget Sequestration Legislation Good or Bad What Do You Think?

Budget Exectuive Office Building DC

With the deadline for action on March, 1, 2013, exasperated governors are joining a White House push to intensify pressure on Congress to prevent a looming budget crisis.

There are currently 30 Republicans, 19 Democrats, and 1 independent holding the office of governor in the states. This begs the question why would “Republican” governors join Obama in preventing less spending with a 16 trillion debt?

Budget sequestration is a procedure in United States law that has the effect of limiting the size of the federal budget.

Sequestration involves setting a hard cap on the amount of government spending within broadly-defined categories; if Congress enacts annual appropriations legislation that exceeds these caps, an across-the-board spending cut is automatically imposed on these categories, affecting all departments and programs by an equal percentage.

The amount exceeding the budget limit is held back by the Treasury and not transferred to the agencies specified in the appropriation bills. The prospect of sequestration has thus come to seem so catastrophic that Congress so far has been unwilling actually to let it happen.

Instead, Congress has repeatedly chosen simply to raise the Budget Resolution spending caps upward toward the end of the legislative session in order to match the actual totals already appropriated, thus largely wiping out the incentives that the reformed budget procedures were expected to provide for Congress to get better control of the budget deficit.

Sources and References:

 

Wikipedia operated by the Wikimedia Foundation
http://en.wikipedia.org/wiki/Budget_sequestration

The National Governors Association (NGA)
http://www.nga.org/cms/home.html

Governors join White House to fight automatic cuts
http://www.myfoxdetroit.com/story/21318050/governors-join-white-house-to-fight-automatic-cuts?obref=obinsite

Sequestration by Dr. Paul M. Johnson
http://www.auburn.edu/~johnspm/gloss/sequestration

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