Sequestration Update Report for Fiscal Year 2012
"Under the Balanced Budget and Emergency Deficit Control Act of 1985
(BBEDCA), as amended by the Budget Control Act of 2011 (Public Law 112-25),
the Congressional Budget Office (CBO) is required to issue, on August 15 each
year, a report providing information about the limits on discretionary spending (now
set through 2021) and an explanation of any adjustments to them that are required to
be made. This document reports on the limits that were specified in the recently
enacted law because no actions have been taken that would necessitate a change in
them..."