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Impact of Obama's sequestration remarks during last night's debate

by Take Two®

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US President Barack Obama listens during the third and final presidential debate with Republican presidential candidate Mitt Romney at Lynn University in Boca Raton, Florida, on October 22, 2012. The showdown focusing on foreign policy is being held in the critical toss-up state of Florida just 15 days before the election and promises to be among the most watched 90 minutes of the entire 2012 campaign. JEWEL SAMAD/AFP/Getty Images

One of the most significant and surprising comments to come out of last night's presidential debate, perhaps the only surprise: President Obama's emphatic assertion that sequestration will not happen at the end of this year.

He was referring to the automatic $109 billion cuts to defense and non-defense spending scheduled for January 2nd, cuts that make up part of the so-called fiscal cliff analysts warn could pitch the country into recession.

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