A feisty President Obama told House Democrats during their annual policy retreat in Lansdown, Va., he is “prepared, eager and anxious” to fight Republicans over the massive sequester cuts slated to slash the federal budget March 1.
“What they’ve (House Republicans) suggested is that the only way to replace it (the sequester cuts) now is for us to cut Social Security, cut Medicare and not close a single loophole, not raise any additional revenue from the wealthiest Americans or corporations who have a lot of lawyers and accountants who are able to maneuver and manage and work and game the system,” President Obama said. “And I have to tell you, if that’s an argument that they want to have before the court of public opinion, that is an argument I am more than willing to engage in.” - See the president’s remarks here
MANY STILL REELING FROM THE RECESSION A new poll released by the John Heldrich Center at Rutgers University shows Americans are still hurting from the Great Recession. According to the poll, one in four said they were laid off at some point during the past four years of the economic recovery, and even more said they had immediate family members or close friends who were out of work. And many who were fortunate enough to keep their jobs received a demotion. Roughly 54 percent said they have had to accept lower pay. - Read more at The Fiscal Times
ECONOMISTS EXPECT GDP TO CLIMB 2.4 PERCENT Economists polled by The Wall Street Journal expect the economy to grow 2.4 percent this year, adding that they anticipate more underlying strength this year. “We're definitely in a better place now than at this time last year," said Arun Raha of Eaton Corp. - Read more at The Wall Street Journal