1. Crisis … Not Averted

    Senate Rejects Last Sequester Bills

    WASHINGTON, DC - FEBRUARY 28:  U.S. Rep. Rosa DeLauro (D-CT) stands next to a poster during a news conference February 28, 2013 on Capitol Hill in Washington, DC. House Minority Leader Rep. Nancy Pelosi (D-CA) held a news conference to discuss the sequester.  (Photo by Alex Wong/Getty Images)

    Alex Wong / Getty Images

    Time for Plan B! Wait, there is no Plan B? As expected, the Senate rejected rival bills aimed at preventing the looming sequester Thursday, meaning that $85 billion in automatic spending cuts will almost definitely kick in on Friday. Bills introduced by both Democrats and Republicans failed to receive the necessary 60 votes to pass. With no other plan in place to stop the sequester, the cuts will now be phased in over the next seven months. According to the Congressional Budget Office, the cuts could lead to the loss of 750,000 jobs this year.

    Read it at The Hill