Americans are perplexed, angry or clueless about Congress’s highly publicized $1.2 trillion sequester, which will cut the federal budget across the board. Unless Congress comes up with a deal, $85 billion will be cut from the budget Friday. President Obama and liberals warn that the sequester plan as it stands is extreme and will seriously damage the economy, leaving many without jobs and services. But conservatives favor the budget cuts. Economics professors -- Allen Sanderson of the University of Chicago and Edward Stuart of Northeastern Illinois University -- debate whether the sequester is a good idea, and what it means for your pocketbook, on Chicago Tonight at 7:00 pm.

Related Links:

Remarks by the President on the Sequester

The Washington Post article on The big sequester gamble: How badly will the cuts hurt?

The Washington Post's "The Fix" blog on The sequester? Never heard of it.

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More on Allen Sanderson