Sequester impact won't be "overnight," but will be real, Obama says

President Obama speaks during an event at Newport News Shipbuilding February 26, 2013 in Newport News, Virginia. Obama painted a devastating picture of looming government budget cuts, at a fabled shipbuilding yard in Virginia that provides the US Navy's nuclear powered aircraft carriers. / BRENDAN SMIALOWSKI/AFP/Getty Images

The word "sequester" is bad enough, but the effects of the policy -- huge budget cuts set to start Friday -- will be even worse, President Obama warned today.

"The impact of this policy won't be felt overnight, but it will be real," Mr. Obama said at the Newport News Shipbuilding company in Newport News, Va. "The sequester will weaken America's economic recovery, it will weaken our military readiness, and it will weaken the services people depend on."

Virginia's shipyards would see some of the biggest impacts of the sequester, which would cut around $85 billion in federal spending this year and around $1.1 trillion more over the next 10 years. Mr. Obama visited the shipyard today to drive home his point that the sequester takes a "meat cleaver" to government spending.

As part of his visit, the president toured part of the Supplemental Module Outfitting Facility (SMOF), a large building at the Newport News shipyard. The SMOF supports the building of large sections of Virginia-class nuclear attack submarines and specializes in the construction of the Bow or front sections.

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Mr. Obama has been urging Congress to replace the sequester with a "balanced" plan for deficit reduction that includes some spending cuts as well as new revenues from closing tax loopholes and certain tax breaks.

"All we're asking is that they close loopholes for the well-off and the well-connected," Mr. Obama said. "I do not think that is too much to ask, I do not think that is partisan."

If there are Republicans who don't like every detail of his plan, he said, he's ready to compromise.

The president noted that there are politicians from both parties who want to do the same -- including Rep. Scott Rigell, R-Va., who accompanied Mr. Obama on his tour of the shipyard today.

However, Mr. Obama said, "There are too many Republicans in Congress right now who refuse to compromise even an inch when it comes to closing tax loopholes. That's what's holding things up right now."

Rigell represents Virginia's 2nd congressional district, which has the highest concentration of men and women in uniform, active duty and retired, in the country. He said that closing the door completely on any new tax revenues is a bad idea.

"I've... shared with my colleagues that I believe that a position that says we will reject a proposal if it has even a dollar increase in revenue, I don't think that's a wise position and I don't hold that value," Rigell said today. "Our country has a spending problem. We need to grow our economy and raise revenues that way. I also believe that revenue has to come up a bit, first by growing the economy, but also by tax reform which also includes eliminating lobbyist inspired lobbyist written loopholes. I am in favor of that."

House Speaker John Boehner, R-Ohio, and Senate Minority Leader Mitch McConnell, R-Ky., have both said that they are against any new tax revenues. The Senate is expected to vote this week on two competing plans to replace the sequester, but neither is expected to win enough support to pass the Congress. Boehner, meanwhile, said today, the Senate needs to "get off their ass" and do something.

Mr. Obama noted today that "already the uncertainty around these cuts is having an effect." He seemed to acknowledge, however, that it's unlikely Congress will agree to a plan to avert the cuts before they start to take effect on Friday. "The longer these cuts are in place, the greater the damage," he said.

[highlndr55]

The sky if falling, the sky is falling, the sky is falling. Or maybe now it is not falling, the sky is not falling, the sky is not falling. Well, Mr. President - is it falling or not?

[GOP-R--Con-Men]

Republicans have done more damage to America than any terrorist ever could.

The Republican game plan is to destroy the economy blame the Democrats and President Obama. This was their strategy to obtain the White House and the Senate in the 2012 elections. If you think the Republicans are death on average Americans, working-class and middle-class people now. Just think of how much more damage they could do to this country if they had the house,the Senate and the presidency to consolidate power to do whatever they want. They would then have free reign to turn America into the third world country that they want for their corporate overlords.

They've already shown their hand by not approving extended unemployment benefits for people and anything else that would help the average American. Then they took America to the brink of default with the debt ceiling crisis. A crisis in which they created. Republicans on the supreme court ruling corporations are people and therefore can give unlimited funding to politicians. Republicans fighting for tax cuts for corporations, big oil and the wealthy while advocating cutting social security, medicare and medicaid. For those reasons and more I can't imagine any thinking working-class poor or middle-class person supporting Republicans after all the damage they've done to this country.
Americans must reject republicans at town hall meetings for their anti American unpatriotic strategy and tactics. The only difference between Timothy McVie and the republicans is he used explosives and they used their congressional positions.

The phony debt ceiling debate and agreement was another part of the republican game plan to take back the senate and white house. They create artificial crisis to stall (run out the clock on President Obama's term) and cripple him and the economy to prevent JOBS from being discussed or created. They were counting on voters blaming the president for the bad economy even though they the republicans are sabotaging every step of the way.
Even a blind man can see republicans couldn't care less for average Americans. Just imagine what they would do if they controlled the house, senate and presidency. Americans did not let that happen. Because it is crystal clear by the behavior of republicans they do not want America to progress and will hold it hostage to prevent it.
Republicans are screwing up government to prove their mantra " government doesn't work". This is designed to frustrate and turn off non supporters f thus paving the way for their depraved zealots to shape the discussion. Hostage politics is their strategy. Americans need to punish republicans at town halls and with calls, letters and emails.

They cannot be allowed to get away with sabotaging our great nation. Americans need to recognize that republicans have no intention or incentive to do anything to bring America out of its economic woes.
After all, they think they can shift blame by blaming President Obama and Democrats. Time will tell if Americans will fall for this again. Prevent abuse of struggling Americans and America. Just say no to republicans.

[highlndr55]

How on earth do you come to the conclusion that the Republicans are trying to ruin the Economy? They want job creators to have the ability to create jobs. This current administration has so many impediments in the way, jobs can not be created. Would you hire when you do not know what is going to happen with taxes, the effect of OBAMA CARE on your business, etc.? Put the blame where it belongs - with OBAMA!!!

[GOP-R--Con-Men]

OK then name the points in my post that you find not true?

[Donnie_G]

This just goes to show you that our president is running out of fear cards to play and even dealing from the bottom of the deck isn't helping his position. Hint, Mr. President; if you really want to put knee buckling fear and terror in American hearts, then all you have to do is FAINT, FALL, SUSTAIN A CONCUSSION and let OLD CARTOON JOE take over. Believe me, that would do it!

[snowcap12]

Now he is beginning to walk his statements back some. He starts with the fear mongering, the dog and pony shows, and now walks them back. He is bad for the country. He is the worst person to ever PLAY President.

[NeoGraphix00]

Oh so the guy before him who made up an excuse to invade a country isn't so bad? You both are insane, mainly DEM.

[NeoGraphix00]

and food for thought....if the Iraq war never happened the billions of dollars used to fund that war would have been here and we probably wouldn't be in this position. War is costly, in lives and in funds.

[snowcap12]

Now he is beginning to walk his statements back some. He starts with the fear mongering, the dog and pony shows, and now walks them back. He is bad for the country. He is the worst person to ever PLAY President.

[Donnie_G]

What do you mean the president is now saying that the world isn't going to end on Friday? I was only offline long enough to stock the bunker with MRE's. What'd I miss? :)

[Pope_slow_news]

I almost didn't reconize your comment without all of this,

Froth, rant, froth frothing at the mouth!! RANDOM CAPITALIZING! (hehehehehe!) LMAO! LOL! Republi-'cons' Republi-'cons' Republi-'cons'!!! FROTH!!!

Ha! Ha!

[Donnie_G]

What do mean the president is now saying that the world isn't going to end on Friday? I was only offline long enough to stock the bunker with MRI's. What'd I miss? :)

[Donnie_G]

All those typos. Must be nap time.

[GOODBYE-AMERICA--]

Now the Marxist Buffoon is back pedaling away from his dire warnings of Doom and Gloom. People were not buying his snake oil propaganda.
Chicken Little Obama clucks in vain.

[Steve_James]

Sucks when someone calls your bluff don't it Obama?? Let the back peddling, spin, and excuse-making begin. And let the CUTS BEGIN!!! It's for sure you have no intention of even remotely addressing our nation's budget deficit problem. Translation - YOUR SPENDING PROBLEM!!

[NeoGraphix00]

If Bush wouldn't have brought the US in a false war with Iraq, the cost of keeping troops and equipment over there for 9+ years would have been used here for other things.....ummmmm just an interesting thought of what might have been.

[535Clownsplusone]

So Bush being wrong automatically makes Obama right? Still pissed about the Civil War too or have you let go of that one?

[Steve_James]

Oh so now he changes his tune? Just the other day it was dogs and cats living together, planes crashing in the sky, mass hysteria, hundreds of thousands of starving children on the streets, the apocalypse. What an actor...