U.S. politicians must not sacrifice economic growth for the sake of political differences , according to Dutch foreign minister Frans Timmermans . The U.S. is facing $ 85 billion in spending cuts that will begin to take effect on Friday . The cuts are a product of the sequester , a series of automatic cuts to government spending . Congress has been unable to agree on how much money should be cut from each department and program over the next decade.
The U.S. is facing $ 85 billion in spending cuts that will begin to take effect on Friday . The cuts are a product of the sequester , a series of automatic cuts to government spending . Congress has been unable to agree on how much money should be cut from each department and program over the next decade.