Poor record keeping has prevented federal officials from having any idea how much money has been saved by the sequestration process, according to a congressional watchdog.
“The nation lacks a clear picture of the true savings from sequestration each year,” the Government Accountability Office (GAO) wrote in a Tuesday blog post. “Moreover, without this information, the nation can’t track its annual progress toward the required overall savings of $1.2 trillion.” (RELATED: Report: Will Military Pay Raises Be Another Casualty Of Sequestration?)
Sequestration – mandated budget cuts from 2013 through 2025 – is intended to reduce the deficit by at least $1.2 trillion, according to the post.
GAO estimated sequestration cut $19.4 billion, but “the actual amount reduced is unclear because the Office of Management and Budget doesn’t keep complete records in a way that allows it to calculate a year-end government-wide total.” (RELATED: WSJ Op-Ed: Obama’s Cuts To Military Go Deeper Than Sequestration, Reflect Deliberate Strategy)`
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