President Barack Obama threatened today to veto any bills that roll back $1.2 trillion in automatic spending cuts scheduled for 2013 unless Congress agrees to an equivalent, balanced deficit reduction package.
Obama noted that there are already efforts to roll back the automatic spending cuts in Congress but said he will not stand for that.
“My message to them is simple: No,” he said.
“I will veto any effort” to eliminate the automatic cuts without a balanced deal with equivalent deficit reduction, Obama added.
“The only way these spending cuts won’t take place is if Congress gets back to work” and agrees to a balanced package, he said. “There will be no easy offramps.”
Obama also pivoted to his jobs package, in particular his payroll tax cut. Obama said he hopes that lawmakers who are “fighting so hard to protect tax breaks for the wealthy” will agree to prevent a tax increase on the middle class.
From left, Rep. Christopher H. Smith, R-N.J., David Goldman, the father of a child who was abducted to Brazil by the mother, and Arvind Chawdra, a father whose two children were abducted to India by their mother, attend a news conference in the Rayburn House Office Building on international child abduction.
Each year since 1990, CQ Roll Call has reviewed the financial disclosures of all 541 senators, representatives and delegates to determine the 50 richest members of Congress. This year's report, derived from forms covering the calendar year 2012, shows it took a net worth of $6.67 million to crack the exclusive club.