From coast to coast, states brace for sequester shock
Sure, it’s got a weird name. But the effects of sequestration may hit all too close to home for some Americans if lawmakers allow the cuts to take full effect later this month. One day after President Barack Obama signed an order to cut spending by $1.2 trillion over a decade, NBC News takes a look at how people may feel the pinch from New York to Chicago to Los Angeles.
Sequester storm gathers over D.C. economy
Let the sequester begin.
President Barack Obama on Friday signed an order that starts putting into place federal spending cuts that could begin forcing layoffs of federal workers. Obama signed his directive, entitled “Sequestration Order for Fiscal Year 2013,” after he and congressional leaders failed to come up with an alternative budget plan.
The nation’s capitol and nearby Virginia and Maryland will likely feel the worst of the impact. States heavily-reliant on federal spending – as far away as New Mexico – are also in for some rough weather.
White House retreats from doomsday spending cuts predictions, but keeps blame on Republicans
Cairo (CNN) – Calling it a “good-faith effort” to help the Egyptian people, U.S. Secretary of State John Kerry released $250 million in economic aid Sunday, with a pledge of more if President Mohamed Morsy implements economic and political reforms.Kerry’s announcement came after a series of weekend meetings in Cairo with a cross-section of Egyptians and a two-hour session with Morsy on Sunday.”When Egypt takes the difficult steps to strengthen its economy and build political unity and justice, we will work with our Congress at home on additional support,” Kerry said in a written statement on the talks. But right now, Kerry said, Egypt needs help.
KERRY SAYS US RELEASING MILLIONS IN AID TO EGYPT