INQUIRER.net: White House fears deep damage from spending cuts

INQUIRER.net Philippine News for Filipinos

White House fears deep damage from spending cuts Feb 8th 2013, 23:17 WASHINGTON—The White House warned Friday that billions of dollars in automatic budget cuts set to kick in on March 1 were a "blunt" instrument that could wreak deep damage to the already fragile US economy.   In the latest and most vehement warning over the impending cuts to domestic and defense spending—known as the "sequester"—officials painted a grim picture, as Democrats and Republicans squabbled over who was most to blame.   The White House issued a doom-laden survey of sequestration impacts, saying 10,000 teacher jobs were at risk, food inspections could stop, 373,000 mental health patients would lose treatment and prosecutors could be furloughed. &nb... Keep on reading: White House fears deep damage from spending cuts Media files: Obama-Fiscal-Cliff_De-J.jpg (image/jpeg)

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