Worrying about sequestration again

By Jeff Foust on 2013 February 5 at 7:05 am ET

It was a missed deadline that was hardly noticed. Monday was the day that, under federal law, the White House was supposed to release its fiscal year 2014 budget proposal. But the Obama Administration did not release its budget proposal on the first Monday in February, as was the case last year. Officials with the Office of Management and Budget say the FY14 budget will be released next Wednesday, the day after President Obama gives his State of the Union address.

However, not many people are thinking about the 2014 budget when spending for 2013 remains unresolved, more than four months into the fiscal year. Attention is now on the March 1 deadline to deal with across-the-board automatic spending cuts, aka sequestration, a deadline that’s already been pushed back from the beginning of the year. Now, though, there’s a growing belief that the sequester, or something like it, will go into effect at the beginning of next month. National Journal reported last month that senators of both parties think sequestration could go into effect given unwillingness to either accept revenue increases or redistributed spending cuts. And POLITICO, in a piece today on the effect of such cuts on defense spending, concluded that currently “bets are on the automatic cuts taking place.”

Read more: Worrying about sequestration again « Space Politics.

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