If Congress fails to reach an agreement and enacts sequestration cuts, Los Angeles could lose $115 million in federal funding increasing the city's projected $216 million deficit for 2013-14.
Federal Trigger Cuts Could Slice $115M from Los Angeles Budget
JAN 4, 2013 3:26pm ET
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Land isn't the only thing drying up in California, as the drought's economic impacts are dangerously closing in on the state's financial resources.
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