Obama pledges to veto effort to undo automatic spending cutsPresident Obama is promising to veto any effort to undo the automatic spending cuts that are set to take effect now that the congressional supercommittee has announced its failure to strike a deal to cut $1.2 trillion from the deficit over the next 10 years.
"Already some in Congress are trying to undo these automatic spending cuts. My message to them is simple: No," Mr. Obama said from the White House briefing room Monday evening. "I will veto any effort to get rid of those automatic spending cuts to domestic and defense spending."
"There will be no easy off ramps on this one.," he added. (watch at left)
The president's statement came about an hour after the chairs of the bipartisan supercommittee, Sen. Patty Murray, D-Wash., and Rep. Jeb Hensarling, R-Texas., officially announced that they would be unable to reach a deal, citing an inability to bridge "significant differences."
"After months of hard work and intense deliberations, we have come to the conclusion today that it will not be possible to make any bipartisan agreement available to the public before the committee's deadline," said Hensarling and Murray in a joint statement.
http://www.cbsnews.com/8301-503544_162-57329146-503544/obama-pledges-to-veto-effort-to-undo-automatic-spending-cuts/