TODAY: Obama Calls For Delaying Spending Cuts vs. 2009: Obama Tells C-Span ‘We’ve Run Out Of Money’

Deficit President chickens out at the last minute.  $20 trillion here we come.

Story just hit the wires.

WASHINGTON (MarketWatch) – President Barack Obama will ask Congress Tuesday to craft a small package of short-term spending cuts and tax revenue to put off the automatic across-the-board cuts, known as the sequester, that are scheduled to kick in March 1, according to press reports. The request will come in a public statement from the president at the White House early this afternoon, the reports said. If Congress does not act, about $85 billion would have to be cut from government agencies, including the Defense Department, this fiscal year. Earlier Tuesday, House Speaker John Boehner used a press conference to urge Obama to offer proposals to replace the spending cuts. A White House official said the small package was needed to give the White House and Congress more time to achieve a bigger budget deal.

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Flashback: Obama Tells C-Span ‘We’ve Run Out Of Money’



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