Last-ditch talks at the White House to avert the reductions before Friday’s deadline broke up without agreement.
Economy and Finance
Obama signs sweeping US budget cuts into effect
The midnight deadline for the Sequester issue to be solved as come, and gone without a deal being reached on how to avoid the damaging cuts. Obama has blamed the Republicans saying:
“They’ve allowed these cuts to happen because they refuse to budge on closing a single wasteful loophole to help reduce the deficit…we shouldn’t be making a series of dumb, arbitrary cuts to things that businesses depend on and workers depend on”
He warned of huge job loses if a deal was not reached and that growth will slow. The IMF has stated that the cuts will depress global economic growth.
Delivered by The Daily Sheeple
We encourage you to share and republish our reports, analyses, breaking news and videos (Click for details).
Contributed by Chris Carrington of The Daily Sheeple.
Chris Carrington is a writer, researcher and lecturer with a background in science, technology and environmental studies. Chris is an editor for The Daily Sheeple. Wake the flock up!
