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WSJ – Cuts Roll In as Time Runs Out


“This is going to be a growing storm, it will hurt more and more as more time goes on,” said Gene Sperling, director of the White House’s National Economic Council. “But I think there’s a certain amount of pain that’s already being felt in the economy.” White House officials have pointed to cuts in military spending last year that reduced economic growth.

Many Republicans scoff at the notion that a 2.4% cut from a $3.55 trillion federal budget can’t be absorbed easily. They point to a rising stock market as a sign that Americans are shrugging off the sequester’s effects, and accuse the White House of preparing to manipulate the cuts to gain political leverage.

“The president is ready to make it bite as hard as possible…

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