Millions of uninsured Americans will now have access to healthcare as a result of the Supreme Court’s decision last Thursday to uphold the Affordable Care Act. This is a big step forward for the nation, but it raises questions about funding. The nation is already starved for revenue and is supposed to cut $1.2 trillion from the federal budget over the next eight years through the sequestration process.
Under sequestration, one or more of the three major areas of the budget – defense spending, Medicare or Medicaid – need to be cut. Congress is now trying to have President Obama show where these cuts will be made. But the Daily Caller is reporting that the president doesn’t intend to implement sequestration for the military:
President Barack Obama’s White House has told at least one defense contractor not to worry – sequestration isn’t really going to happen.
According to House Armed Services Committee Chairman Buck McKeon, Office of Management and Budget (OMB) Acting Director Jeffrey Zients told Lockheed Martin CEO Bob Stevens not to worry about the potential sequester.
Sequestration cuts are set to automatically take place following the failure of the deficit-reduction super committee.