Sequestration Coming?

For John, BLUF:  We can't keep spending more than we take in and 3 January upcoming will be a reckoning.

This morning The New York Times has an article on efforts in the US Senate to solve the Sequestration problem.  I think the fact that Sequestration is hard to spell means that folks have started using "fiscal cliff".  $100 Billion automatic cuts per year for ten years, come 3 January—roughly 50/50 between defense and the rest.

At the same time ABC News reports that Lockheed-Martin has agreed to the Federal Department of Labor directive that defense contractors NOT provide notification of potential layoffs under the WARN (Worker Adjustment and Retraining Notification) Act.  The law calls for industries with 100 or more employees to give 60 [Calendar] days notice of a plant closing or mass layoff.  DOL has promised to pay LockMart legal bills if the are sued.

A little math shows that 60 calendar days before 3 January is just before the election.

Regards  —  Cliff