Sequester lands today

Sequester lands today

CBSnews.com: Today, when President Obama signs the order, the so-called sequester will take effect, and $85 billion in automatic 2013 spending cuts will begin rolling in.

Against that backdrop, Mr. Obama will meet this morning with congressional leaders at the White House to continue negotiations on a deficit reduction package that could replace the sequester, which the president has warned could cause a "tumble downward" for America's economy.

 

Read more.