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Economy: Budget Cuts #1045104

CBS Evening News for Friday, Mar 01, 2013
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(Studio: Scott Pelley) Photo of President Obama signing the Budget Control Act of 2011 that set up automatic, across-the-board budget cuts and live shot of the White House shown.

(White House: Major Garrett) The failure of Obama and Congress to agree on a budget deal featured; details given about the Defense Department cancellation of ship maintenance projects in Norfolk, Virginia and cuts to Army bases, including Fort Lee and Fort Belvoir; Justice Department memo about employee furloughs quoted. [OBAMA – says it’s just dumb.]

(Studio: Scott Pelley) Report introduced.

(Capitol: Nancy Cordes) A look at what will and will not be cut under the sequester presented; details given about the exemptions for food stamp funding, children’s health subsidies, Medicaid and military pay and benefits; cuts to defense and domestic spending cited. [Representative Raul GRIJALVA††- supports defense cuts.] [Senator Roy BLUNT††- says if you listen to the administration you assume it is the last day it’s safe to go outside.]

(Studio: Scott Pelley) The impasse over taxes with Republicans opposing Obama’s plan to raise revenues noted. [In interview last month, OBAMA – comments on reducing the deficit by combining spending cuts, health care reform and closing loopholes and deductions.] [Speaker of the House John BOEHNER – says there is no revenue that’s necessary; says the problem is spending.]

Reporter(s):
Pelley, Scott;
Garrett, Major;
Cordes, Nancy
Duration:
00:07:20

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