POLITICO – Rep. Buck McKeon is frustrated.
Facing the prospect of across-the-board cuts in defense spending, the chairman of the House Armed Services Committee has been urging his colleagues to act now to stave off what he sees as looming disaster.
“I am very concerned,” the California Republican said. “I don’t see anything happening, and we can’t wait until January to do this.”
At issue is sequestration — the $1.2 trillion of automatic spending cuts over 10 years mandated by the Budget Control Act.
About half the cuts — $500 billion — would be in defense, with about $55 billion set to take effect in January, unless Congress acts to prevent them.
Many members of Congress — Republicans and Democrats alike — oppose the automatic cuts, which would affect nearly every Pentagon spending account. But so far, lawmakers have been unable to reach a deal to thwart them.