Sequestration

Sequestration

Introduction

Sequestration is a term used for a series of regular and compulsory cuts in funds to government agencies. Also, it can be said as a process of cordoning off funds that may have been sanctioned by the Congress but is now disallowed from being spent. The sequestration was developed as part of the debt limit law last year. The sequestration totals $1.2 trillion over a decade. The cuts would be divided equally between the defense and domestic programs. Its main purpose is to get a grip over the growing national debt of US that stands at around over $16 trillion. ...