Mandatory spending cuts in the federal budget, known as sequestration, have entered into force in the United States.
Up until last summer, it had been believed that a compromise that would make such cuts unnecessary would surely be struck sooner or later between the Democrats and the Republicans.
Perhaps in consideration of the strong will of President Barack Obama, who would not yield on the health care insurance reforms, the Democrats refused to make concessions on Social Security and medical care issues. The Republicans, staunch believers in small government, would not agree to a tax increase. It is utterly unpredictable what the future will bring.