President Barack Obama has urged US Governors to prod Congress to strike a budget deal averting a raft of deep budget cuts set to hit on Friday. He warned the 85 billion dollars cuts would put thousands of teachers out of work and bring economic uncertainty. The President has called on Congress to pass revenue rises and some budget cuts to avoid the automatic reductions.The Democratic President will travel to Virginia today to discuss the cuts' impact on the defence industry. Republicans say they will not agree to a deal that includes a tax rise. The budget cuts, known in Washington DC as the sequester, were devised in 2011 as an intentionally painful cudgel to encourage Democrats and Republicans in Congress to strike a deal to reduce the US budget deficit.
News On AIR | February 26, 2013 3:01 PM
US Prez Obama urges Governors to strike deal & avoid deep budget cuts