Feb. 24 (Bloomberg) -- U.S. Senator John McCain, a Republican of Arizona, said President Barack Obama should hold talks with lawmakers at Camp David or the White House to avoid spending cuts set to take effect March 1.
“I won’t put all the blame on the president of the United States,” McCain said on CNN television’s “State of the Union” broadcast today when asked about the looming reductions. “But the president leads. The president should be calling us over somewhere, Camp David, the White House somewhere, and us sitting down and trying to avert these cuts.”
If Congress doesn’t act, federal spending will be reduced by $85 billion in the final seven months of this fiscal year and by $1.2 trillion over the next nine years. By the end of 2013, inaction would lower the gross domestic product by 0.6 percent and cost 750,000 jobs, according to the non-partisan Congressional Budget Office.
McCain is a senior member of the Senate Armed Services Committee.
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