President Obama focuses on sequester
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UNITED STATES -- We're a little less than a month away from the next fiscal deadline the federal government is set to face. In his weekly address, President Obama discussed the sequester.
That consists of the automatic spending cuts to federal programs and defense that would take effect if Congress does not act on budget proposals by March 1st. The president says he hopes to avoid these cuts with what he says is a similar approach to how the country dealt with the fiscal cliff.
Democrats and Republicans came together and made responsible cuts and manageable changes to our tax code that will bring down our deficit. This time, Congress should pass a similar set of balanced cuts and close more tax loopholes until they can find a way to replace the sequester with a smarter, longer-term solution.
Earlier this week, Defense Secretary Leon Panetta testified before Congress, urging lawmakers to avoid the sequester. He says the cuts would present the U.S. military with the most significant readiness crisis in more than a decade.