Originally published on Mon February 25, 2013 7:55 am
Barring a last-minute deal that at the moment seems unlikely, months of brinkmanship are set to culminate on Friday.
The sequester — $85 billion worth of across-the-board cuts in federal spending — will begin to kick in, with potentially serious economic consequences, including federal furloughs and the slashing of programs.
Here are three stories we've plucked from the ether that should give a good picture of what's going on as we approach sequester D-Day:
There is speculation about a last minute settlement. But if that doesn't happen, a federal judge in New Orleans will today begin hearing arguments about BP's liability for the 2010 oil rig explosion and spill in the Gulf of Mexico that killed 11 men and led to one of the biggest environmental disasters in the nation's history.
At stake: Billions of dollars in potential penalties.