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      OMB tells federal agencies to set budgets 5 percent lower than standard

      Federal agencies that have already seen their budgets take hits due to sequestration will have even less capital to work with in Fiscal Year 2015, Federal Times reports.

      The Office of Management and Budget released a memo to agencies Wednesday that instruct leaders to set their 2015 budgets 5 percent lower than amounts outlined by President Barack Obama. Federal Times says they're also being asked to drop discretionary funding totals to levels 10 percent below official recommendations.

      Agencies are also being asked to figure out ways to rid themselves of overlap and redundancy.

      READ MORE at federaltimes.com.