Economics
Obama to Urge Lawmakers to Delay Automatic Spending Cuts
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President Barack Obama will urge Congress to delay automatic spending cuts scheduled to take effect on March 1 to avoid the economic effects of a sudden drop in U.S. government spending.
Obama will speak at 1:15 p.m. at the White House today and ask Congress for a delay in “deep, indiscriminate cuts to domestic and defense programs,” the White House said in a statement.