White House to report on automatic spending cuts Friday
September 13, 2012 20:22
GOLDEN, Colo. - The White House will deliver to Congress a report on possible automatic spending cuts on Friday, 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 by the end of the year. President Barack Obama is required under law to specify how funding for specific programs would be affected.
Cuts are expected to total $109 billion in 2013, to be split among defense and non-defense programs.