Earlier this week, we looked at the political situation around the sequester. Now, the economic impact. While some legislators say the automatic budget cuts won't be as bad as the President is suggesting, economist Elizabeth Powers warns they might be worse than expected. She joined us to discuss how the sequester will impact Illinois.
With a sequester deadline all but blown, President Obama says he wants a big fiscal deal that would raise taxes and trim billions from expensive and ever growing entitlement programs.
Is the federal government really going to let $85-billion in budget cuts take hold at the end of this week? Lynn Sweet, the Chicago Sun-Times Washington bureau chief, has been monitoring the sequester debate, and gives us an update.
Congress has until the end of the week to come up with a deficit-reduction plan, or risk $85 billion in automatic spending cuts. The White House on Monday released a report, giving a snapshot of what the sequester would mean for Illinois.
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