Print PageThe president spoke after meeting with congressional leaders at the White House on $85 billion in automatic spending cuts that go into effect Friday.
Obama says the cuts are "dumb and arbitrary" and he blamed them on Republicans in Congress.
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FILE -In this Dec. 10, 2010 file photo, President Barack Obama listens as former President Bill Clinton speaks in the briefing room of the White House in Washington. When Bill Clinton takes the convention stage to endorse Barack Obama later this week, it will be a landmark step on a path to reconciliation for two former rivals whose political fortunes are now inextricably tied. By embracing Clinton, Obama hopes to capture the former president's uncanny knack for political survival against tough odds. And it doesn’t hurt that the economy and the nation’s budget picture last truly soared under Clinton. (AP Photo/J. Scott Applewhite, File) -
Democrats and Republicans meet at the White House for intense talks with little expectation of a last minute agreement on the latest budget crisis. Brookings' Institute Congressional expert Sarah Binder explains the deadlock's impact. (Mar. 1) -
President Barack Obama appealed for cooperation and compromise from congressional leaders Friday, saying that surmounting the so-called fiscal cliff at year's end is "urgent business." (Nov. 16) -
Speaking to business executives, President Obama said automatic budget cuts caused by the sequester would be a "tumble downward" for the economy. However, he said many Americans might not feel the impact immediately. (Feb. 27)
