$85 billion worth in spending cuts will automatically kick into effect sometime before midnight on Friday.
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Story Summary
Sequestration budget cuts in effect
Across-the-Board budget cuts known as sequestration have begun.
President Obama signed the order to begin $85 billion in cuts Friday night, after he and Congressional Republicans failed to reach a deal to avert automatic reductions.
Government agencies will now begin to hack their budgets through September 30th, which is the end of the federal fiscal year.
The cuts are expected to be phased in over the next few months.
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