With just a few days to go before new government spending cuts are set to take effect, what are the chances that another eleventh-hour action will avert the latest impending hit to the economy?
Very little, according to a survey of economists released Monday by the National Assn. for Business Economics. The group said that nearly 60% of economists now expect the so-called sequestration, which will slice about $85 billion from the federal budget, to begin March 1 in full or partial form.
Source: LA Times. Read full article. (link)