President Obama and lawmakers are facing several important fiscal deadlines. One is to avoid the $1.2 trillion in spending cuts included in sequestration and another is raising the country’s debt ceiling. Here is a look at some of the issues involved in these two fiscal challenges.
SequesterIf Congress and Obama can’t reach a deal to avoid sequestration, then the country would see budget cuts of $1.2 trillion through 2021. Defense Secretary Leon Panetta has said that the defense cuts would be a “disaster.” But if you look at this graph, the blow isn't as bad as the military has faced in the past. Even if the sequestration was implemented, the drop in spending would be less than the military experienced after the Korean, Vietnam or Cold wars.The Center for Strategic and International Studies
President Trump and first lady Melania Trump lit the National Christmas Tree for the first time. The program was hosted by television personality Kathie Lee Gifford and actor Dean Cain and featured performances by the Beach Boys, Jack Wagner, Wynonna Judd, Craig Campbell and others.