White House accuses Republicans of brinkmanship on spending cuts
WASHINGTON Jan 30 (Reuters) - The White House said on Wednesday a drop in GDP in the fourth quarter is driven in large part by a decrease in defense spending and accused Republicans of "political brinkmanship" for threatening to let more defense cuts take effect.
White House spokesman Jay Carney said a looming March 1 deadline when defense cuts take effect absent a broader budget deal stands to hurt the U.S. economy and taxpayers unless addressed.
He said Republican threats to let the cuts take place amount to "political brinkmanship" that harms only Americans.
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.