U. S. stares down start of steep “automatic” budget cuts
WASHINGTON (Reuters) – The U. S. government hurtled on Friday toward deep spending cuts that threaten to hinder the nation’s economic recovery, as President Barack Obama met Republican and Democratic leaders at the White House in search of an alternative fiscal plan. The inflexible plan, locked in during a bout of deficit-reduction fever in 2011, initiates time-released, across-the-board cuts that can only be halted by agreement between Congress and the White House. That deal has proved elusive so far. . . .
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