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URGENT ¥¥¥ Obama set to speak on budget cuts

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(Globalpost/GlobalPost)

US President Barack Obama will make remarks about looming automatic budget cuts at 1635 GMT after a meeting with top congressional leaders broke up with little apparent progress.

The president's appearance will take place on the day in which $85 billion in automatic cuts are due to come into force, following the failure of Obama and Republican leaders to reach a deal on how to reduce the deficit.

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http://www.globalpost.com/dispatch/news/afp/130301/urgent-obama-set-speak-budget-cuts