Tags: US | Budget | Battle | Start | Time

White House: Automatic Cuts to Come Friday Night at Midnight

The White House says automatic spending reductions set to kick in Friday will be put off until as close to midnight on Friday as possible. Call them the Cinderella cuts.

The law, passed by Congress on Jan. 2, simply says that “on March 1, 2013, the president shall order a sequestration for fiscal year 2013.”

That’s budget talk for an $85 billion reduction in defense and domestic spending between now and Oct. 1. Obama can issue that order at any point in the day Friday.

And White House press secretary Jay Carney says that means midnight Friday, or as close to midnight as possible: 11:59 p.m. and 59 seconds.

Because, in Carney’s words: Obama is “ever hopeful.”

Urgent:
Spending Cuts – Obama to Blame? Vote in Urgent Poll

© Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

1Like our page
2Share
Newsfront
The White House says automatic spending reductions set to kick in Friday will be put off until as close to midnight on Friday as possible.
US,Budget,Battle,Start,Time
128
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved