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President Obama: "This is a loss for the American people."




President Obama Makes a Statement on Resolving the Sequester.

03/02/2012 - Washington DC ( USA ) - Starting today, our government will need to grapple with a set of arbitrary budget cuts that will hurt the economy, make life harder for middle-class families, and threaten our national security. That's what Washington means when it talks about the sequester.

Not everyone will feel the consequences of these cuts immediately, but if sequestration is allowed to continue, it will make life more difficult for Americans all across the country. That's a fact that no one disputes.

And the reason we are here is because some members of Congress have made a choice to prioritize these cuts over closing tax loopholes for the wealthy. But there is still time for them to make a different choice and undo this manufactured crisis.

Today, President Obama discussed this situation and answered questions from the press. "This is not a win for anybody," he said. "This is a loss for the American people."  

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