Saturday, August 22

In the news:

President Barack Obama signs $85 billion sequester into effect

President Barack Obama signed today an executive order that officially puts into effect $85 billion in across-the-board national spending cuts known as sequestration. “By the authority vested in me as President … I hereby order that budgetary resources in each non-exempt budget account be reduced by the amount calculated by the Office of Management and Budget,” Obama stated in the order. Read more...