that were part of the deal made to increase the debt limit. Automatic cuts were scheduled in both defense and social services spending unless the supercommittee came up with a plan. Since they failed, the automatic cuts were supposed to happen on January 1st. That is the spending side of the so-called "fiscal cliff".

that used to pay you $100 for the night but can now only afford to give you $80. In addition you have to accept it.

http://en.wikipedia.org/wiki/Budget_sequestration

and all the degrees amonst them, they couldn't come up with a better name for bargaining - all I think of when I hear "sequestration" is the OJ jury...

Doesn't private conference or session cut it anymore?

se·ques·ter

/səˈkwestər/
Verb

Isolate or hide away (someone or something): "the artist sequestered himself in his studio for two years".

Noun
A general cut in government spending.
Synonyn

verb.

sequestrate - seize - isolate - impound - insulate
noun.

segregation - sequestration