by Krishnadev Calamur
White House Chief of Staff Denis McDonough at the White House on Jan. 25.
The White House and congressional Democrats are sounding the alarm bells over the consequences of the sequester, the across-the-board cuts to the budget that are scheduled to go into effect in March.
White House Chief of Staff Denis McDonough said the cuts would offset “pretty good” economic activity over the past few months. He said President Obama had a plan to cut an addition $1.5 trillion from the deficit.
“He’s ready to do another $1.5 trillion to get up to the $4 trillion target that economists across the country tell us is needed to stabilize the debt over the next 10 years,” McDonough said on ABC’s This Week. “So that’s exactly what the president has done, working with Democrats and Republicans.” Continue reading “White House Warns Of Sequestration’s Effects”