U.S. stares down start of steep “automatic” budget cuts
WASHINGTON (Reuters) – The U.S. government hurtled on Friday toward deep spending cuts that threaten to hinder the nation’s economic recovery, as President Barack Obama met Republican and Democratic leaders at the White House in search of an alternative fiscal plan. The inflexible plan, locked in during a bout of deficit-reduction fever in 2011, initiates time-released, across-the-board cuts that can only be halted by agreement between Congress and the White House. That deal has proved elusive so far. …
http://uk.news.yahoo.com/u-stares-down-start-steep-automatic-budget-cuts-060346719–business.html
Senate confirms Lew as Treasury secretary
WASHINGTON (AP) — The Senate confirmed Jacob Lew to be Treasury secretary, affirming President Barack Obama’s choice of a budget expert at a time when Congress and the White House are at odds over sharp government spending cuts.
http://news.yahoo.com/senate-confirms-lew-treasury-secretary-231016528–finance.html
Obama, top lawmakers to meet as cuts kick in
WASHINGTON (AP) — The White House conceded Wednesday that efforts to avoid automatic budget cuts are unlikely to succeed before they kick in and is initiating new talks with congressional leaders to confront seemingly intractable tax-and-spend issues.
http://news.yahoo.com/obama-top-lawmakers-meet-cuts-kick-200220094–finance.html
White House Believes G.O.P. Will Get Blamed for Cuts
While White House strategists believe that Republicans will be blamed as the cuts’ effects slowly emerge, President Obama risks political damage if Americans end up just shrugging at the reductions.