Excerpt from: Southern Business Journal (click for full article)
January’s word of the month in Washington was “fiscal cliff.” February’s word of the month was “sequestration,” a word only a Congressman could love.
Basically, sequestration is a process of automatic, largely across-the-board spending cuts to most, but not all, of the federal budget.
As I write this article, in mid-February, it is unclear whether Congress and the president will compromise, and thus avoid the automatic budget cuts. If they fail to compromise, we will have awakened on March 1, 2013, to a federal government that has been “kneecapped.”
Fortunately, programs that low- and moderate-income persons and families rely on to help pay for nursing home and other long-term care have been exempted from sequestration. The following programs are exempt from the automatic cuts scheduled to have taken effect at 12:01 a.m. March 1, 2013:
• Medicaid
• All VA Pension Benefit programs
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