White House fears deep damage from spending cuts
- Published: 9 Feb 2013 at 06.44
- Online news: World
The White House warned Friday that billions of dollars in automatic budget cuts set to kick in on March 1 were a "blunt" instrument that could wreak deep damage to the already fragile US economy.
US President Barack Obama stands alongside outgoing Defense Secretary Leon Panetta during a tribute. He warned that sequestration would hit US military readiness, saying "there is no reason for that to happen."
In the latest and most vehement warning over the impending cuts to domestic and defense spending -- known as the "sequester" -- officials painted a grim picture, as Democrats and Republicans squabbled over who was most to blame.
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