WASHINGTON Feb 5 President Barack Obama on
Tuesday asked Congress to avoid deep spending cuts with a
stopgap bill and said he is committed to cutting the nation's
deficit to manageable levels over the long term.
Obama said uncertainty over the automatic across-the-board
cuts - known as sequestration - has stunted economic growth and
has the potential to do further damage.
A round of deep cuts would kick in March 1 unless Congress
acts, and the president asked lawmakers to pass a modest bill
that would blunt the impact of the reductions for several months
to allow time to produce a broader package to address the
Obama said he remains committed to achieve the full $4
trillion in deficit reduction seen as necessary to bring the
nation's sea of red ink under control. But he insisted that
deficit reduction come in part from tax reforms.