Speaking to business executives, President Obama said automatic budget cuts caused by the sequester would be a 'tumble downward' for the economy. However, he said many Americans might not feel the impact immediately..
Speaking to business executives, President Obama said automatic budget cuts caused by the sequester would be a 'tumble downward' for the economy. However, he said many Americans might not feel the impact immediately.
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Jon Karl reports the latest news on America's budget battle.
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President Barack Obama warned Tuesday that 'people will lose their jobs' if across-the-board budget cuts, known as the sequester, take effect as scheduled next week.
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The Pentagon's press secretary says military officials are not 'crying wolf' when they talk about the devastating effects budget cuts will have on the Department of Defense.
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Speaker of the House John Boehner says automatic federal spending cuts, known as the 'sequester,' are like taking a meat ax to the government.
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Speaking at the daily White House briefing, Transportation Secretary Ray LaHood told reporters that a sequester would lead to furloughs for most FAA employees, which would cause many flights to be delayed or cancelled.
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President Barack Obama says Congress can keep across-the-board cuts from taking effect with 'just a little bit of compromise.' Obama addressed the nation's governors Monday. Unless Congress acts, $85 billion in cuts will go into effect Friday.
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President Barack Obama has sent Congress his new year's budget, hoping its spending cuts and higher taxes on the rich could form the basis of a budget deal later this year.
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Three days after midterm elections that were brutal for Democrats and gave Republicans control of both chambers of Congress, President Barack Obama invited 16 top-ranking lawmakers to the White House to explore possibilities for compromise. (Nov. 7)
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Huddling with House and Senate leaders for the first time this year, President Barack Obama urged lawmakers to stake out areas of compromise, including on the issues of cybersecurity, trade and tax reform.
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