More than $110 billion in mandatory budget cuts are slated for next year in a so-called 'financial Armageddon' called sequestration, including $11 billion in Medicare reimbursements cuts for physicians and healthcare providers.
MASSDEVICE ON CALL — The bad news: A law on the books with $110 billion in mandatory budget cuts, including an $11 billion haircut for doctors and hospitals.
The good news: Everybody hates it.
The so-called "financial Armageddon" called sequestration, which would slash $110 billion from the U.S. government's budget next year on the way to $2.1 trillion over a decade, is the ultimate poison pill. Politicians of all stripes, from President Barack Obama to the Republican and Democratic leadership in Congress to rank-and-file members, are opposed to the measure.