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Tue Feb 5, 2013, 12:22 PM

President Obama To Urge Lawmakers To Delay Automatic Spending Cuts [View all]

Source: Bloomberg

President Barack Obama will urge Congress to delay automatic spending cuts scheduled to take effect on March 1 to avoid the economic effects of a sudden drop in U.S. government spending.

“Uncertainty around the sequester is already having a negative impact on our economic growth,” the statement said. Allowing it to take effect “would cost hundreds of thousands of American jobs and have devastating impacts on our economy,” it said.

Read more: http://www.bloomberg.com/news/2013-02-05/obama-to-urge-lawmakers-to-delay-automatic-spending-cuts.html

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