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U.S. agencies draw up plans to cut spending if they fall from ‘cliff’

Posted: December 8, 2012 at 5:27 a.m.

Treasury Secretary Timothy Geithner walks with President Barack Obama at the White House on Friday as budget negotiations continue without resolution. House Speaker John Boehner said Friday that there was “no progress to report.”

Federal agencies are sharpening their plans for forced spending cuts starting Jan. 2 if the Obama administration and Congress cannot agree on a deficit-reduction strategy in the coming days.

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Front Section, Pages 1 on 12/08/2012

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