President Obama signs order triggering sequestration

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President Barack Obama signed an order triggering mandatory, government-wide spending cuts Friday.

Federal law required the president to sign the order before midnight.

The sequestration, or sequester, will cut $1.2 trillion from defense and non-defense spending over the next 10 years. Both parties agreed to the cuts as a part of the Budget Control Act in 2011.

They amount to roughly 9 percent  for a broad range of non-defense programs and 13 percent for the Pentagon over the rest of the current fiscal year, which ends on Sept. 30. The full impact of the cuts isn’t expected until April at the earliest.

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