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President attempts to avoid defense sequester cuts

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    Proposes raising revenues as short-term fix

  • Duration 2:54
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Good evening I'm John Roberts in tonight for Brett -- maybe it wasn't such a good idea after all the White House streamed at the Specter of massive spending cuts the so called sequestered to reach a budget deal a couple years ago it was supposed to be a big bluff.

But today President Obama called his own -- pleading with congress to kick the looming sequester deadline.

Down the road a little -- to win them over he offered this trade -- a small package of spending cuts and more tax increases so how is that playing on Capitol Hill here's -- chief White House correspondent Ed -- Warning the nation's economic recovery hangs in the balance President Obama prodded congress to stop a series of massive spending cuts that could threaten national security.

Urging them to instead come up with a short term combo of lesser spending cuts plus tax increases beyond what he signed at the end of December if they can't.

Get a bigger package done.

By the time the sequester is scheduled to go into effect.

But I believe that they should at least pass a smaller package president said the sequester puts hundreds of thousands of jobs in jeopardy from classrooms to the Pentagon.

And defense contractors like Lockheed Martin which today announced hundreds of layoffs.

Mr.

Obama said damage can be stopped if only Republican speaker John Boehner will instead except the White House -- final offer from last December.

Meeting up to 600 billion dollars in more tax hikes through cutting deductions plus cuts to Medicare and other program.

My health care proposals achieve the same amount of savings by the beginning of the next decade as the reforms.

That have been proposed by the bipartisan Bowles Simpson fiscal commission Republicans were not -- the president.

Added his live event around the same time house majority leader Eric Cantor was delivering a big speech.

-- GOP leaders made clear they want specific spending cuts and no new tax hikes to shut off the sequester there's no greater moral imperative.

Then to reduce -- mountain of debt that's facing us our children and theirs White House officials say they have been specific including about 350.

Billion dollars in Medicare cuts the when asked what the president did not meet that deadline for unveiling his new budget for the third straight year spokesman Jay Carney blamed Republicans saying fiscal cliff talks delayed the process why didn't.

You meet the deadline for submitting his -- budget that anyway well being part of what the president has talked about.

Just in in recent days is impeding.

Get beyond this situation we were gone well where we are governing.

Especially with regards to our fiscal and economic matters in a PE NN in the state of constant crisis.

A group of liberal house Democrats actually came out today said they want not just new taxes but also new spending as part of this deal -- -- both parties are far apart with a march 1 deadline on the sequester.

-- John and -- for -- tonight at the White House end thanks.

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