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Obama: Spending cuts "dumb" but won't cause "apocalypse"

Reuters News
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March 01, 2013 AT 1:52 PM
President Barack Obama heaped blame on Republicans on Friday for the failure to break a deadlock in efforts to avert looming automatic spending cuts and warned that a "ripple effect" would start hurting the middle class and the overall U.S. economy. Deborah Lutterbeck reports.