Obama to press Congress to revisit $1.2T in cuts

Andrew Taylor. AP, 20 January 2012.
http://defensealt.org/HbwoVl

Excerpt:

The White House plan, likely to reprise new taxes and fee proposals that are nonstarters with Capitol Hill Republicans, would turn off the entire nine-year, $1.2 trillion across-the-board spending cuts, referred to as a “sequester.”

“We have a sequester coming less than a year from now unless Congress acts,” said a senior administration official. “We’re going to ask Congress to do now what we think Congress should have done in December, which is enact more than $1.2 trillion in deficit reduction, turn off the sequester and maintain the (spending caps).”

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