Obama Signs Order For "Sequester" Budget Cuts

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President Barack Obama on Friday signed an order that starts putting into effect across-the-board budget cuts known as the "sequester" after he and congressional leaders failed to find an alternative budget plan.

President Barack Obama on Friday signed an order that starts putting into effect across-the-board budget cuts known as the "sequester" after he and congressional leaders failed to find an alternative budget plan.

The White House released a copy of Obama's directive entitled "Sequestration Order for Fiscal Year 2013." Government agencies will now begin to hack a total of $85 billion from their budgets between Saturday and October 1.

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