Obama on budget cuts: "Hope springs eternal"

With just a week until the mandatory budget cuts known as the sequester carve $85 billion in federal spending out of the U.S. economy, and with precious few opportunities remaining for policymakers to negotiate a deal to avoid the cuts, President Obama dialed down the doomsday rhetoric today, telling reporters that the looming cuts will not wreck the entire global economy.

"I think, unlike issues like the debt ceiling, the sequester going into effect will not threaten the world financial system. It's not like the equivalent of the U.S. defaulting on its obligations, " Mr. Obama said, referencing the nasty 2010 debt ceiling fight that threatened a U.S. default and led to the first-ever downgrade of America's credit rating

"What it does mean," the president continued, "is that if the U.S. is growing slower, then other countries are growing slower" due to America's considerable influence on the global economy.

The automatic spending cuts that land on March 1, Mr. Obama warned, will lead to both "direct job loss" and slower job growth due to a "softer" economy.

• Will sequestration really be that bad?
• Obama reaches out to Boehner, McConnell on sequester

But despite the dearth of available time for policymakers to negotiate a solution, "I never think that anything's inevitable," the president said. "We always have the opportunity to make the right decisions...hope springs eternal."

Avoiding the cuts "should be a no-brainer," Mr. Obama said, adding, "I don't need to persuade world leaders of that. I've got to persuade members of Congress - and that can be harder sometimes."

White House press secretary Jay Carney said today that while "We remain hopeful that Congress will act" to avoid the sequester, lawmakers may need to buy themselves more time again, as they did by postponing the previous sequester deadline at the end of 2012.

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Carney: Another sequester delay may be needed

Republicans may "come to the conclusion that is better simply to do what they did in December and allow this manufactured deadline to be postponed so they can get back to work" on negotiating a compromise, Carney said, suggesting that another two-month delay is a possibility.

Congress, currently in recess, returns to Washington next week to continue negotiating a deficit reduction package to replace the sequester. Both parties have blamed each other for the failure to secure a deal, with Republicans charging that Democrats will not agree to meaningful spending cuts and Democrats accusing the GOP of protecting tax loopholes for the privileged.

The president's comments came after a bilateral meeting between Mr. Obama and the Japanese Prime Minister Shinzo Abe at which the two leaders addressed issues ranging from the global economy to the recent provocative nuclear test by North Korea.

[TimeToEvolve]

Happy Sunday folks, so this is my take on what has happened to America: we let Reagan talk us all into letting Wall Street buy and run the government for maximum profit. Since big corporations cannot do anything efficiently (they have to have massive profits), just look at the 2007 Wall Street Bankster fiasco, how can we expect them NOT to mess up the government.

So basically we have a completely dysfunctional government because of the Wall Street billionaire barons. It's pretty easy to see the facts.

[GOP-R--Con-Men]

Republicans hate govenment to the point they sabotage it whenever possible. They intentionally run up deficits spending on things not productive for America. They do this to justify saying there are no funds for social programs. They hate social programs. They do not believe the government should help individuals and they do not want government to work for individuals. This is another reason they sabotage it every chance they get.

The US post office is a prime example of republicans sabotaging government. They passed a law requiring the USPS to pre-fund employees retirement 75 years in advance in a 10 year window. No other entity in the entire country is required to do this except the USPS. This is what's causing the USPS to be cash strapped. Absent that the USPS would be fine. The bogus fiscal cliff crisis to the current sequester. There are more examples of republican sabotage, you get the picture.

[TimeToEvolve]

Republicons who hate the government wanting to run it...Hmmmmm

Republicons who hate American workers want to make laws to help them...Hmmmmm

[BuryDems]

"HOPE"?

Mr. President, you beat that one to death long ago and now you are killing faith.

Kenya is calling you home.

[535Clownsplusone]

Jezz, with the Academy Awards just 24 hours away you would think Washington would have started this crap earlier. Can't wait to see which party wins Best Actor!

[jefffoj]

Um, NEARL451,what are you talking about? "Where are my ideas to manage programs better and make SS and Medicare solvent long term?" Huh? Where are the administration's ideas? I voted for the guys who had ideas and a plan to make the aforementioned solvent long term, while your party repeatedly lied and scared the American public? Paul Ryan, one of approximately the 8% of congressmen and women who actually have a degree in Economics took the tough issue head on! Obama and company continue to kick the can down the road! I will debate you until the sun goes down and beyond. You are not even in my league pal! Obamacare, 2700 pages that almost no one has read or understands, yeah, that's a good idea. When will the President ever be honest to the American people? Tell me that.

[jefffoj]

Obama is one big pathetic narcissist. Biggest liar ever. Worst President in my lifetime. Somebody tell me how this guy got the job. And the mindless sheep who follow him.........unbelievable. Hey, self proclaimed Emperor, sit down on national television for one hour with Mark Levin, so you can be exposed for what you really are and how you are destroying this great country. Tell the truth for at least once in your life!

[nearl451]

Yaaaaawn.

Where are your ideas to manage programs better and make SS and Medicare solvent long term.

Takes so much bravery just to say you hate Obama. so WHAT? What are you ging to do wait four years and elect watch another Democrat get elected anyway?

How about some FORMATIVE ideas from you lot.

Posters like you don;t need to write anything. Just hit a button that says "I hate Obama".

Useless waste of words.

[Posing_Away]

RepubliCon_Liar_RobMe replies: linkicon reporticon emailicon .
.
..Ooooooh, wow, "Scarrrrrry".... you mentioned "Hitler"...LOL!

How many hours of the day do you spend on Fox, 8 or 10?
........................................................
buf.foon
noun
1.
a person who amuses others by tricks, jokes, odd gestures and postures, etc.
2.
a person given to coarse or undignified joking.
Synonyms
1. jester, clown, fool. 2. boor.
Yup, That's RepubliCon_Liar_RobMe in a NUT-shell.

[bobw101]

RepubliCon_Liar_RobMe replies:

You apparently don't understand what's going on...LOL!...but don't worry, we expected that from you.

"Freeze government spending" is what starts happening on March 1st, based upon the sequester enactment law called "The Budget Control Act of 2011".

Take the time to learn what's happening, will yah?!!!

-----------

Only in diseased mind of a leftest is an increase in spending called a freeze.

[bobw101]

Strawman.

[wfw3536]

It is really sad how this administration and the National Media continues to scare folks into believing that the sky will fall if the sequester happens. If Obama and his administration can't come up with 2.3% of a 3.5 trillion dollar budget than they are totally incompetent. This would be like if you had 3,000 dollars in debt and you were asked to cut 85 dollars from your budget. Funny, Obama promised the middle class before the election no taxes, yet he let the 2% payroll tax happen on Jan 1st. I guess no one cares about regular folks who had to live with 2% less this year. Where are all the stories about regular folks who just can't make it without this 2%. Oh, the hypocrisy.

[Cowmpound]

Liar

Your owning these clowns today.