WASHINGTON – President Obama placed blame squarely on Republican lawmakers at a Friday press conference for failing to stop automatic spending cuts that were to begin kicking in later in the day, calling the cuts "dumb, arbitrary."
Republicans, for their part, said the fault was his, for insisting that increased taxes be part of the resolution.
The president said the impact of the cuts won't immediately be felt, but middle class families will begin to "have their lives disrupted in significant ways." He said that as long as the cuts stay in effect, Americans will know that the economy could have been better had they been averted.
"The pain, though, will be real," Obama said.
He said he still believed the cuts could be replaced but he wanted a deal that includes more tax revenue. Continue reading via Fox News...