What is sequestration? And why is Washington in a panic about it?

Federal budget cuts, known as sequestration, are scheduled to hit in one week ^[1]. They’re not the perfect approach to trimming the budget, but they are the law — adopted by Congress and endorsed by President Obama.

Of course, that was August 2011. Now that the March 1 deadline is just days away, Obama and liberal members of Congress are clamoring to undo the law with a “balanced” approach ^[2] that includes more tax hikes. It would be better to replace the sequester with smarter cuts, but the reality is that Washington has to start cutting spending now.

Join us at noon ET today for our weekly Google+ Hangout to understand what’s at stake and why you should care.

Our panel includes:

• Rob Bluey, director of Heritage’s Center for Media and Public Policy (@RobertBluey ^[3])
• Noelle Clemente, press secretary at American Action Forum (@Noelle ^[4])
• Matt Cover, staff writer at CNSNews.com (@MattCover ^[5])
• Veronique de Rugy, senior research fellow at the Mercatus Center at George Mason University (@veroderugy ^[6])
• Dan Holler, communications director at Heritage Action for America (@DanHoller ^[7])

Learn more about sequestration:

Spending Cuts Are Happening, One Way or Another ^[1]