NEW ORLEANS - We have heard so much about those automatic spending cuts called sequestration that take affect March 1.
There are a lot of misunderstandings about what it is, and whether or not it is the doom and gloom we have heard.
Basically it centers around spending and budget cuts.
Right now, the federal budget is around $3.5 trillion and the sequester cuts amount to $85 billion this year or about 2.5 percent in cuts.
And while that sounds like a small amount, it's how those cuts will be made.
WWLTV's money man Randy Waesche had a look at sequestration.