Obama warns of coming 'pain' from budget cuts, but was his claims fact or hype?
President Obama warned us about when the forced spending cuts took effect that many Americans would feel the pain. One thing the administration said we would be facing right now were long lines at the airport.
Does Obama's claim add up?
OutFront tonight: CNN Jim Acosta has the story.
Obama signs order enacting $85 billion in spending cuts
The sequester hatchet is about to fall. Or is it? For weeks, President Obama has been warning that we will face financial doom when these $85 billion dollars in cuts take effect in less than five hours from now.
"These cuts not smart, they are not fair, they will hurt our economy, they will add hundreds of thousands of Americans to the unemployment roles. This is not an abstraction." Obama added, "People will lose their jobs."
Obama signs order activating deep spending cuts
But as the clock ticked closer to dooms day the President started to change his tune.
"This is not a cliff but it is a tumble downward," Obama said.
Erin Burnett asks if we're not going to feel the pain, what was all the bickering about?
OutFront tonight: Stephen Moore, a Sr. Economics Writer, Wall Street Journal Editorial Page and Daniel Altman, an economics professor at New YorkUniversity.
One day until cuts: Lawmakers play the 11th hour blame game
In less than 24 hours, $85 billion in forced spending cuts that many call 'brutal' and 'dangerous' will start to take effect. These cuts are widely disliked by both sides of the aisle, including the president.
For days leading up to the day set last summer by Congress and the Obama administration - it has been all talk and little action.
One day to cuts: What's Congress doing?
The Senate today already rejected competing Democratic and Republican alternatives to the current cuts. House members are set to leave Washington Thursday.
President Obama said he will meet with top lawmakers from both sides Friday to discuss the budget cuts, but many onlookers believe the meeting will be nothing more than a photo opportunity.
"Tomorrow I will bring together leaders from both parties to discuss a path forward. As a nation, we can't keep lurching from one manufactured crisis to another." Obama added, "Middle-class families can't keep paying the price for dysfunction in Washington."
OutFront tonight: CNN Contributor John Avlon, Douglas Holtz-Eakin, former Director of the Congressional Budget Office and Daniel Altman, economics professor at New York University. FULL POST
Immigration detainees released before cuts; GOP accuse Dems of fearmongering
The Immigration and Customs Enforcement agency has released several hundred immigration detainees ahead of the $85 billion in forced spending cuts that kick in on Friday.
ICE says they're just moving the detainees to less costly forms of supervision. Republicans call the move outrageous and accuse the Obama administration of resorting to scare tactics.
Our Jim Acosta is OutFront with the story:
Looming spending cuts: Dire warnings or scare tactics?
Erin Burnett talks to Stephen Moore and Robert Reich about looming spending cuts set to take effect in two days.
On Twitter
