Multimedia

Economy Slow Down Predicted As Sequester Loomsi
X
February 22, 2013
U.S. President Barack Obama is calling on Congress to take action to prevent $85 billion in automatic spending cuts -- known as the "sequester" -- from going into effect on March first. The sequester deadline resulted from a battle over raising the debt ceiling in August of 2011. Congress and the president agreed on a future threat of severe mandatory budget cuts as a way of forcing action to cut the national deficit. But the threat did not work, and now, the cuts are poised to happen within days -- unless Congress finds an elusive compromise to cut spending. VOA Congressional Correspondent Cindy Saine has the story.]]

Economy Slow Down Predicted As Sequester Looms

Published February 22, 2013

U.S. President Barack Obama is calling on Congress to take action to prevent $85 billion in automatic spending cuts -- known as the "sequester" -- from going into effect on March first. The sequester deadline resulted from a battle over raising the debt ceiling in August of 2011. Congress and the president agreed on a future threat of severe mandatory budget cuts as a way of forcing action to cut the national deficit. But the threat did not work, and now, the cuts are poised to happen within days -- unless Congress finds an elusive compromise to cut spending. VOA Congressional Correspondent Cindy Saine has the story.]]