President Barack Obama urged Congress Tuesday to delay the looming sequestration cuts by passing a package of both spending cuts and tax hikes, but reports said Wednesday that Obama’s plan was DOA in the House.
With 10 days until the $85 billion in sequestration cuts take effect, President Barack Obama urged lawmakers Tuesday to avert the “brutal” cuts.
"It’s not a bigger government we need," said President Barack Obama in his State of the Union address Tuesday, "but a smarter government that sets priorities and invests in broad-based growth.”
Today, President Obama will sign the sequestration order, triggering massive spending cuts. But so far, predictions of a market freak-out have failed to materialize.
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