5-days Out From the US Presidential Election the AAAS Appeals for Funds from its Members. (November 2, 2012)

The United States' Budget Control Act of 2011 became law on August 2^nd last year when President Barack Obama signed the legislation that had been passed by both houses of the Congress. It ended the debt-ceiling crisis, which had threatened sovereign default.
 

The Act allows the Congressional Joint Select Committee on Deficit Reduction options for balancing the federal government's budget but if the committee is unable to devise legislation for mechanisms to balance the budget to be forwarded to both houses of Congress, automatic budget sequestration will kick in on January 3, 2013.

The letter from Alan Leshner, CEO of American Association for the Advancement of Science (AAAS) to its members notes the possible consequences on US science and innovation should sequestration become the order of the day.