Obama says across-the board cuts are not inevitable

WASHINGTON Fri Feb 22, 2013 2:04pm EST

WASHINGTON Feb 22 (Reuters) - President Barack Obama said on Friday he does not believe it is inevitable that Congress will let deep automatic spending cuts go into effect March 1.

Obama and congressional Republicans are at loggerheads over government spending and taxes, and do not appear to be on track to prevent the cuts, known as sequestration, from going into effect as scheduled.

Obama said that if allowed to take place, the reductions would slow the U.S. economy, with a ripple effect on growth around the world. However, the spending cuts are not likely to cause a shock to the world's financial system, he said during a meeting with Japanese Prime Minister Shinzo Abe.

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Comments (2)
gsxrinthe9s wrote:
lets see obama says deep spending cuts ?
department of defense cuts will be a whopping 7 cents on every dollar
if obama can give the muslim brotherhood 20 new fighter jets 20 new abrams tanks and 1.8 billion dollars with out congress approval then 7 cents on the dollar shouldnt be a problem
domestic program cuts ……THERE ARE NO CUTS ITS A LIE
but the increase in spending will be cut by 5 cents on the dollar
when are we going to get truth in the media

Feb 22, 2013 5:07pm EST  --  Report as abuse
freddyfreebe wrote:
Republicans are playing hard to get because that defense budgets is there bread and water. Without the buddy buddy system contractors, there pockets would not get enough attention.

Feb 22, 2013 7:01pm EST  --  Report as abuse
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