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Obama blames Republicans for 'dumb' cuts

March 2, 2013 00:30
President Barack Obama on Friday blamed Republican refusal to compromise on deficit cutting for "dumb" and "unnecessary" spending cuts about to slam into the fragile US economy. The arbitrary and automatic $85 billion dollar cuts, known as the "sequester" will begin later Friday, in a self-inflicted wound brought about by deep ideological polarization between the president and his foes in Congress.

Sequester: How the US got its crippling budget cuts

March 1, 2013 23:00
The sequester -- that devilish package of reckless and arbitrary budget cuts to US government spending that was not designed to actually go into effect -- is finally upon us. Friday was the deadline to reach a deal that averts the reductions, but no such bargain has been crafted. The White House blames Republicans, Republicans blame President Barack Obama and the American people point the finger at all of Washington. Here is how Congress and the White House got to this point:

Obama orders $85 billion spending cuts, blames Republicans

March 1, 2013 22:15
President Barack Obama reluctantly ordered an $85 billion austerity drive Friday that could slow the US economy and slash jobs, after blaming Republicans for refusing to stop the "dumb" spending cuts. Obama complied with his legal obligations and initiated the automatic, across-the-board cuts in domestic and defense spending, following the failure of efforts to clinch a deal with Republicans on cutting the deficit.

$85 billion austerity hit lines up US economy

March 1, 2013 17:31
An $85 billion dollar austerity time bomb was to detonate against the US economy Friday, as President Barack Obama blamed a Republican refusal to compromise for a failure to avert "dumb" spending cuts. The slashing reductions in domestic and defense spending, brought on by deep ideological differences between Obama and top Republicans, threaten to further slow tepid economic growth and could cost hundreds of thousands of jobs.

Reuters World News Highlights 1800 GMT March 1

March 1, 2013 14:30
TOP STORIES ----------- WASHINGTON - U.S. House of Representatives Speaker John Boehner ruled out tax increases as a way to address the nation's deficit after talks with President Barack Obama on budget cuts set to start taking effect later on Friday. - - - - NAIROBI - Kenyans choose a new president on Monday in a closely fought election that has divided the east African nation and raised fears of a repeat of the bloodshed that followed the tightly contested race five years ago.

UPDATE 1-After Obama meeting, Boehner says no more talk on revenue

March 1, 2013 14:16
WASHINGTON, March 1 (Reuters) - U.S. House of Representatives Speaker John Boehner ruled out tax increases as a way to address the nation's deficit after talks with President Barack Obama on budget cuts set to start taking effect later on Friday. "The discussion about revenue, in my view is over. It's about taking on the spending problem," Boehner said in a short statement to reporters after leaving the White House meeting.

Obama set to speak on budget cuts

March 1, 2013 13:46
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.

Obama blames Republicans for 'dumb' cuts

March 1, 2013 13:32
President Barack Obama on Friday branded the automatic budget cuts about to slam into the US economy as "dumb" and "unnecessary" but blamed Republicans for the failure to avert them. "These cuts will hurt our economy, will cost us jobs and to set it right both sides need to be able to compromise," Obama said, on the day $85 billion in cuts go into force after lawmakers failed to reach a deficit-cutting deal.

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March 1, 2013 12:30
OBAMA TO MAKE STATEMENT AT WHITE HOUSE AT 1135 ET ON BUDGET TALKS-WHITE HOUSE

Obama, congressional leaders begin meeting to discuss budget cuts

March 1, 2013 11:45
WASHINGTON, March 1 (Reuters) - President Barack Obama began a meeting with congressional leaders on Friday to discuss a series of automatic spending cuts that start to take effect later in the day, talks that were not expected to result in a last-minute deal. Obama and Vice President Joe Biden met with Senate Majority Leader Harry Reid, Senate Republican leader Mitch McConnell, House of Representatives Speaker John Boehner, the top U.S. Republican, and House Democratic leader Nancy Pelosi.
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