Second Round of Sequestration Cuts Looming

A second, deeper round of automatic federal budget cuts is on its way, and it's going to hit the Pentagon hard.

Already reeling from a $34 billion budget blow this year due to deficit-driven spending reductions known as sequestration, the Defense Department would feel an additional $20 billion punch in 2014. All told, the Pentagon's budget for next year would be cut by about 10 percent below levels approved just six months ago.

Domestic programs are spared further automatic budget cuts, a little-known wrinkle that could give Democrats some advantage in upcoming negotiations over repealing sequestration — or at least easing its effects.

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