With the presidential election and end of the year quickly approaching, there are serious questions around the budget. We are beginning to hear more and more about sequestration, the budget deficit, and what kinds of deals Congress will strike. With so many “what ifs?”, it may be helpful to remind ourselves of how what happened in the past few years has shaped where we are now.
Below is a timeline that depicts the major decisions and changes that have occurred recently regarding the budget. The last two points on the timeline show what will occur in the next six months assuming no major changes are made between now and then.