Understanding the impact of last fall’s fiscal cliff might not have been easy, but at least the term conjured up images to which Americans could relate. Having avoided the fiscal cliff a few weeks ago, we now face sequestration, our next major financial crisis.
Unlike "fiscal cliff," the word "sequestration" evokes no mental picture for most people, and the term provides little insight into the magnitude of the concept.
In the wake of the President’s State of the Union address, there is no time like the present for a quick primer on sequestration and its potentially enormous impact.
I have composed a list of five basic questions about sequestration and provided the answers to each, in an effort to shed some light on what’s at stake.