Budget

White House to Report on Automatic Spending Cuts Situation

What's the possibility of sequestration?

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The White House will deliver to Congress on Friday a report on possible deep year-end automatic spending cuts, spokesman Jay Carney said on Thursday.

The spending cuts would go into effect under a process called sequestration if lawmakers cannot reach a deal on preventing them. President Barack Obama is required under law to specify how funding for specific programs would be affected.

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