No Deal on Sequester in Sight

“Less than a month after averting one fiscal crisis, Washington began bracing Tuesday for another, as lawmakers in both parties predicted that deep, across-the-board spending cuts would probably hit the Pentagon and other federal agencies on March 1,” the Washington Post reports.

“An array of proposals are in the works to delay or replace the cuts. But party leaders say they see no clear path to compromise, particularly given a growing sentiment among Republicans to pocket the cuts and move on to larger battles over health and retirement spending.”

The Wall Street Journal notes Senate Democrats “are considering further short-term deferrals of spending cuts set to be implemented from March 1, but only through a combination of increased tax revenue and cuts elsewhere to the federal budget… Two top GOP Senate leaders were quickly dismissive of the plan, saying that they wouldn’t contemplate any tax increases as part of an effort to avoid the sequester beginning to take effect.”