McConnell said that the president and both parties agreed to the sequester, which will now begin next month unless Congress acts to replace the $85 billion in spending cuts slated for this year.

Here's a quick overview of three of the most impenetrable terms related to the fiscal cliff. A Sequester Is A 'Jelly-Like Mass,' And Other Notes On Fiscal-Cliff Jargon Here's a quick rundown on three ...

Learn the definition of sequestration. Learn about government budgets, spending and cuts. Learn about the potential impact of Sequestration on communities across America. Learn the difference between ...