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Subscribe to RSSThe automatic spending cuts, just days away, would cut $85 billion a year, having an impact on federal food inspectors, TSA officers, Department of Defense and civilian workers. NBC's John Yang reports.
President Barack Obama used his bully pulpit Tuesday to warn of calamitous consequences for the U.S. economy should the automatic spending cuts known as the “sequester” go into effect next Friday.
The president warned that the automatic cuts, totaling about $85 billion over the course of this year, would prompt job losses, weakened national security and canceled government services – among other consequences.
“So these cuts are not smart, they are not fair, they will hurt our economy, they will add hundreds of thousands of Americans to the unemployment rolls,” Obama said in a statement at the White House. “This is not an abstraction; people will lose their jobs. The unemployment rate might tick up again.”
The speech featured no new, concrete proposal from the president detailing how he would prefer for Congress to replace the sequester.
NBC's Chuck Todd says it may feel as though the sky is falling (once more) but it's likely the spending cuts will go through March 1, the government will come up with a compromise deal, and they'll punt something else down the road.
Democrats in Congress released a plan last week that called for $55 billion in new revenues from closing tax loopholes and deductions, and additional cuts by $27.5 billion to each the defense and discretionary spending budgets over the course of the next decade.
Obama’s speech was otherwise spent reiterating points he’s made for the better part of the last two months. He said that any sequester replacement should be “balanced” – shorthand for a combination of new tax revenue and spending cuts – and Obama urged lawmakers to approve a shorter-term replacement for the automatic cuts if they couldn’t reach consensus on a broader package by the end-of-February deadline.
Rather, the president, who was flanked by first-responders whose jobs Obama said would be threatened by the sequester, was making use of political optics and the presidential bully pulpit to pressure Congress to act.
Still, the urgency appeared to have little effect on Republicans, who dismissed the president’s remarks as unserious about reaching a solution.
"Once again, the president offered no credible plan that can pass Congress – only more calls for higher taxes," House Speaker John Boehner, R-Ohio, said in a statement.
President Barack Obama voices harsh words toward Republican lawmakers Tuesday while speaking about looming budget cuts.
“Today's event at the White House proves once again that more than three months after the November election, President Obama still prefers campaign events to common sense, bipartisan action,” Senate Minority Leader Mitch McConnell, R-Ky., said in a statement.
Indeed, many Republicans have treated the sequester as a fait accompli; Congress is out of town this week, and lawmakers would only have a handful of days next week to act upon the sequester. Some Republicans have also argued that even if the sequester is replaced, its $85 billion in cuts should set a baseline for offsetting cuts in other areas of the budget.
“I have to say, though, that so far, at least, the ideas that the Republicans have proposed asks nothing of the wealthiest Americans or biggest corporations,” Obama said of the GOP proposal. “So the burden is all on first-responders or seniors or middle-class families. They doubled down, in fact, on the harsh, harmful cuts that I've outlined.”
The president added, as if to drive home the point: “Well, that's not balanced. That would be like Democrats saying we have to close our deficits without any spending cuts whatsoever. It's all taxes. That's not the position Democrats have taken, that's certainly not the position I've taken.”
This story was originally published on Tue Feb 19, 2013 11:04 AM EST
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Obama warns: Pass my stimulus or unemployment could go over 8%, pass my health care package and costs will go down and no one will lose their insurance, for two weeks he was trying to find out what the Benghazi attack was about, no need to turn over "fast and furious" documents,past administration have been to closed so I will have the most open administration ever, give me what I want now and I will agree to a sequester, etc, etc, etc.
The GAO reported to the President that there are $125B wasted on ineffeciencies and duplication of federal programs...yet he does nothing. That is $1.25 Trillion over 10 years. The non-partisan CBO and the GAO has reported to the President that his spending is "unsustainable", yet he does nothing. This president has failed to produce a budget for 3 years...with the last one he submitted being voted down 99-0 in the Democrat controlled Senate...ps, this is in violation of the law. The current spending levels contain spending levels equal to the year of TARP program...it took Congress much deliberation to approve the $780B fiasco, that this President turned around and flushed tens of billions of dollars on cronyism for campaign supporters...and now those dollars have stayed as part of the as yet unproduced budget. There are thousands of jobs in the southern red states...why are people not leaving the rust belt for those jobs...why are millions collecting welfare that are able to move and take these jobs? Because the Dems are paying for them to stay home and for their vote. This President sits on his throne and touts protecting the middle class, and making the wealthier individuals and corporations pay their "fairer" share...Obamacare is the largest single tax ever imposed on the middle class (look it up libs). The presidents buddies at GE...($0 taxes on $15 Billion income) Facebook, Google, etc, etc, etc...HUGE corporations with Billions in revenue that are being spared paying their "fair share" because of they cronyism of this President. He has already gotten the tax increase on individuals. Now HIS sequester is about to hit...millions will be laid off...and this President owns it. The recession is back...look at last quarter of 2012, and Walmarts first quarter estimates...recession is back, and now this president will try to blame conservatives for HIS MESS. Tax and spend does not work...proven time and again....just like this Presidents' belief of socialism...another model that always fails. It is this presidents problem, it is Congress' problem, it is Americas problem. The cronyism, the lobbyists, the media...the whole darn thing. You liberals go ahead and blame George Bush...forget it was you guys that passed the fair housing legislation that caused the bubble that broke our economy, or the blame the Bush war on terrorism a war that was voted for in a bipartisan effort. This first African American President has destroyed the backbone of the very class he has hidden behind...AfricanAmerican unemployment is the highest is 16%, and for the youth sector, it is closer to 21%, and now he is going to totally abandon them for his next paid voter movement....the illegal aliens. The list goes on and on..Progressive Liberals have destroyed the America I love, and it makes me sick to my stomach.
A bit biased in favor of the hard right - teabagger. The American people don't trust you people for one second. Your owned and controlled by the .01%. Your nothing but a serf/peasant for the super rich. Deficit reduction started last year. Higher taxes will level the playing field and reduce our debt. The key is economic recovery. We are on the doorstep and all the teabaggers want to do is tank the economy. The voters are smart and can see right through your plan just the way they could see through Mitt and his BS.
Sequester???? Obama proposed it and he signed it. Now he's attempting to blame the Republicans.
Obama is a cowardly lying sack of crap with the aid of his butt kissing media.....
Hey Obama, where are YOU'RE cuts??? Huh??? Hey Democrats, where is YOU'RE budget??? (none in over 3 years....Arrogance and Irresponsibility )...
Obama is the empty suit doofus president for the ignorant voter..... what a shame for the future of America.
Looming doom????
Obama wants gas/energy prices to rise, no matter who it hurts. Yes, that means YOU, poor, elderly and the struggling middle class....
Could you imagine what gas prices would be now if that doofus in the White House got his way with Cap and Trade???? Thank you Party of No...
You don't go along with Ignorance (Obama World) , you educate and Defeat it....
agreed..
we are rolling down hill like a snowball headed for hell
UND DER FURER SPRECHEN....again
"ACHTUNG...MEIN PEOPLES
I ....Don't Vant...Dis SEQUESTER...Anymore...Dumkoffs..NINE...NINE.."
But Mr.President..It WAS YOUR IDEA..Your Game Playing with The Rebublicans..?
"VAT,,,? VAT..? I don't Vant it..anymore..Das is scheis und ...KAPUT..!"
But...But...It WAS..your Idea...
" YA...YA..But It Don't Vork...I Look Stupid..NOW...?"
Mr.President...you have ALWAYS Looked.......
what really gets me,,is the 2.3% tax on medical devices under obama care...we have spent weeks with our vendors here at the hospital on that very subject..
bottom line,,we will be passing that cost on to patients,,its sad but that is what has to happen..
still think obamacare is a good idea???
hold on to your wallet
Read my lips! No new taxis.
For those who do not understand economics it is important to point out that a deficit consists of TWO factors; revenue and spending. Spending has not increased as drastically under this president as it did the previous one. However, the great Bush recession took its toll on the revenue side of the equation.
Federal Revenue by year in Trillions
2001 1.991
2002 1.853 (Bush tax cuts begin)
2003 1.782 (more Bush tax cuts)
2004 1.88
2005 2.153
2006 2.40 (housing bubble begins to burst)
2007 2.57
2008 2.524 (Bush recession begins)
2009 2.105 (Bush recession continues)
2010 2.162 (Bush recession ends in late 2009)
2011 2.30
yes it did take its toll....
its time to clean it up now...we got bigger problems ahead
now lets address the 2.3% tax increase on medical devices....
hmmm..? dus dis means..i still get my checks..?
J willy how many times have we heard Obama say "Shared Sacrifice"? Obama's commitment to "shared sacrifices"- 7 million dollar Hawaiian vacations, 160+ days on the golf course, ski trips to Colorado, European vacations, Girls vacationing in Cancun, etc.. etc.. WOW what a sacrifice and all on the taxpayers dime!
yes ali,,,just a little lighter
WARNING WARNING WARNING
President Obama warns ..
There is IMPENDING...DOOM..
As The Meteorite,"Sequester 1" ..Crashes into the Congress on March 1..
Obama States.."there Will be Great Trial and Tribulation,There will be Knashing..of Teeth"..
And so ..it came to pass..as Obama walked across The Potomac..
And Spoke ..of The Impending.. A-pack-of-Lips..
From the Book of Obama ..(Marvel Comics...1-March /2013)
"And so I have written..there will Be ..
Babies without mothers..
Fathers without Food Stamps..
Children without cell phones...and x-box..
Movie Theatres..will close..
Bowling Alleys..will grow...silent..
Do you want THIS..on Your Heavy Hearts..?"
Obama is scare now and He was always joking about it, If he stop the silly touristic campaigning trips the country will save about 2 billion dollars per year.If you do not have money you do not spend. The US is bankrupt . is in the red,is broke, is down the drain,, does Obama do not understand that? Fix the debt and stop blaming and whining..
THERE IS PANIC
Following OBAMA's Speech...
Everyone is asked ...To Go Hide Under a Rock..
If the SEQUESTER BOMB..explodes as OBAMA Planned..
Woe is Unto ..All of you... When...
> 2% < of The Spending..is Cut
......................................................
Obama ," Hey,.. How do I shut this Timer off..? Why did I ever MAKE This..SEQUESTER BOMB..?"
Thinking Americans warned of Looming economic danger with the radical empty suit occupying the White House right now....Too bad the ignorant voters came out in Nov and the Obama butt kissing main stream is worthless except as a propaganda machine.....
ONCE YOU REALIZE
THAT OBAMA
WILL KEEP SPENDING
FOREVER....
YOU WILL
REALIZE
THAT TO OBAMA..
IT's MAKE BELIEVE MONEY...
HE WILL
SPEND
FOREVER..
THE MASK
FELL
OFF
DURING
THE SECOND
TERM
HE's
JUST A DIE-HARD
SOCIALIST...
AND
HE WILL
BUY
EVERYTHING
HE
WANTS....
With..YOUR CHILDREN'S MONEY...
obama has already destroyed the economy..now he is just gonna bury it so deep,,we will never get back on track..
think he cares???
NOT...
WHY..
HAS
THE
DEMOCRAT
CONTROLLED
SENATE...
NOT...NOT.....NOT
PASSED
A BUDGET
IN FOUR YEARS.
?
?
?
THEY..Work For ..YOU.....REMEMBER..?
"I have a black, a woman, two Jews and a cripple. And we have talent!"
--- James G. Watt, Secretary of the Interior 1981-1983
Congratulations on your re-election Obama.
The economy....you own it
The sequester....you own it
Benghazi....you own it
Fast and furious...you own it
Obamacare blowing up in your face...you own it
That's quite a record you've got going for yourself....
And then you have the balls to stand up and demand the conservatives fix your mess....running around like chicken little...well Bud...this is your bed and now you can lie in it...At least with the sequester something will happen. Might be good....might be bad... but I'm willing to ride it out either way.
Regardless how it goes there Buttercup.....you own it!
President my Azz..........
Nice Post wb52,
You are absolutely right President Obama does own this mess.
The problem is the taxpayer is going to have to pay for it.
so true..
not one person who makes less than 250k will see an increase in tax...REALLY???
and that little 2.3% tax on medical devices is going to make healthcare skyrocket even more
Republicans you own it: Republicans continue obstructing and sabotaging, hence, crippling our economy and national security. The GOP-Tea Party-Right Wing Cartel is - and has been - committing high treason against the United States of America!
COMPULSIVE SOCIALIST SPENDING SYNDROME..
THEY
CAN'T
HELP
THEMSELVES..
IT's
AN
IDEOLOGY...
ADDICTION..
THEY
ARE
ADDICTS,..
THEY ....
WILL
SPEND
UNTIL
WE
ARE
ALL
EQUAL...
EQUALLY....POOR.......SOON
Republicans you own it: Republicans continue obstructing and sabotaging, hence, crippling our economy and national security. The GOP-Tea Party-Right Wing Cartel is - and has been - committing high treason against the United States of America!
Only in a mind warped by liberalism will cuts of this limited magnitude have some kind of devastating impact. The cuts certainly can be better targeted to different areas of the federal budget, and that can be accomplished over the next month as the budget for the remainder of FY2013 is debated. These cuts are really only a first step. More significant spending cuts will be necessary over the next 10 years to get the government's finances onto a sustainable track.
These cuts if allowed to happen, will trigger another recession. Smarter cuts targeted properly are in order. After that, more revenue will have to be brought in. More deductions and loopholes will have to be eliminated like the ones that were in the fiscal cliff deal.
The cuts were the idea of President Benghazi. His idea. Obama's idea. Stinky's (bo) idea.
Hmmm...the only mistake the President is making is to keep excepting rational behavior from Congressional Republicans.
How many times have we heard Obama say "Shared Sacrifice"? Obama's commitment to "shared sacrifices"- 7 million dollar Hawaiian vacations, 160+ days on the golf course, ski trips to Colorado, European vacations, Girls vacationing in Cancun, White House parties, etc.. etc.. WOW what a sacrifice and all on the taxpayers dime!
And as Obama spoke..
There was a Great Darkening Cloud upon the Land...
Children ran from fear..and a Mighty Wind was Heard...
An Angel Appeared ..on the Steps of Congress..and did Herald..Obama's Mighty Voice..
As Obama spoke," Hey..anybody got a pack of Newports..I'm all out...? "
LMAO!
lol,,and or a blunt wrap
then the ground rumbled,,like a thousand earthquakes..
michelle appears and yells barry!!! you are supose to be quitting
Tobacco is a LEGAL product!! Don't foget that! President Benghazi is merely doing his part to fund children's health care thru tobacco taxes!! I fully support our President, and hope he gets 40-60-80 of those little gems EVERY DAY!! It's for the children for goodness sake!!!! And we KNOW that Stinky (bo) is NOT a quitter!!
Also, aliblahblah.....He's a Marlboro man, no stinkin' "Newports". Marlboro menthols of course, but Marlboro.
I hope he buys them in Virginia like I use to do when I smoked. Cheaper there than D.C. or Maryland. I can give him the address of a good discount tobacco store in Alexandria if he wants; save he U.S. taxpayer some money since I'm sure the smokes go on his expense account.
So you're sayin'..OBAMACARE
Will Provide OBAMA..with some New Lungs ..after He Bar- Be-Q's ..
His Old ones ...on Cigarettes...?
Are there Free Smokes...and a Movie...on Air Force 1..?
I PWAHMAS
I PWAHMAS
I PWAHMAS......YOU...
Isn't Stinky (bo) still "touching" Tiger Woods......helping him with his putz?
lol..i think they got some hookers..after all have you seen obamas husband???
scary
hey..? who's a Putz..?
michelle has a huge putz
In my view we should not be running ANY deficits. That's right I'm talking ZERO. Even if it hurts the economy, loses jobs etc. The country needs to go through this pain so we can stop being spoiled and live within our means. But will we do anything? No. We are going to keep kicking the bomb down the road until it blows up in our face.
Sequestor: Obama's not smart. Not fair.