This week, President Obama used his weekly address to urge Congress to work together to stop the next manufactured crisis slated to take effect on March 1st. The President said;
Our top priority as a country right now should be doing everything we can to grow our economy and create good, middle class jobs.
And yet, less than one week from now, Congress is poised to allow a series of arbitrary, automatic budget cuts that will do the exact opposite. They will slow our economy. They will eliminate good jobs. They will leave many families who are already stretched to the limit scrambling to figure out what to do.
But here’s the thing: these cuts don’t have to happen. Congress can turn them off anytime with just a little compromise. They can pass a balanced plan for deficit reduction. They can cut spending in a smart way, and close wasteful tax loopholes for the well-off and well-connected.