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White House: Looming federal budget cuts would be 'deeply destructive'

symbol of Solyndra: A glass tube from the bankrupt solar company Solyndra is shown in an art exhibit at the University of California at Berkeley Botanical Garden on Friday. The House passed legislation Friday that would phase out a Department of Energy loan guarantee program for clean and renewable energy projects. The No More Solyndras Act passed on a 245-161 vote. 

Associated Press

symbol of Solyndra: A glass tube from the bankrupt solar company Solyndra is shown in an art exhibit at the University of California at Berkeley Botanical Garden on Friday. The House passed legislation Friday that would phase out a Department of Energy loan guarantee program for clean and renewable energy projects. The No More Solyndras Act passed on a 245-161 vote. 

WASHINGTON — President Barack Obama warned Friday that the federal government will face dire budget cuts — nearly 10 percent of the nation's defense and domestic spending — unless Congress acts later this year to reduce the $16 trillion debt.

A report that the Office of Management and Budget issued Friday says the reductions to nearly all government programs would be "deeply destructive to national security, domestic investments and core government functions."

The automatic cuts — known inside the Beltway as sequestration — would lead to fewer FBI and Border Patrol agents, air traffic controllers and park rangers. Housing and food assistance for low-income families would be cut, and medical research would suffer. The cuts also would delay new equipment and repairs for the military.

"For 13 months, Congress has had the opportunity to take the steps necessary to prevent the sequester from kicking in but has failed to do so," said Sen. Chris Coons, D-Del., a member of the Senate Budget Committee. "I hope this report serves as a wake-up call."

The report quickly became fodder on the campaign trail, where Obama and Republican rival Mitt Romney have traded barbs for months on which party is to blame for the impending cuts and escalating deficit.

Republicans and Democrats agree that the reductions would be devastating, but they disagree on what to do about them. Democrats want some cuts, combined with higher taxes on the wealthy. Republicans oppose tax increases.

The cuts are the result of a bipartisan deal struck last year to raise the nation's debt ceiling. Congress agreed that if a 12-member committee failed to reduce the deficit by $1.2 trillion over the next decade, the cuts would come from government spending. The first round is set to start in January.

In releasing the report, the Obama administration reiterated that the president has put forward his own plan, and it blamed Congress, specifically Republicans, for failing to act. Obama urged them again to do so before the end of the year.

Obama was required to submit a report to Congress on the proposed cuts last week. Senior administration officials said an extra week was needed to produce a thorough report.

The 400-page document details for the first time which of 1,200 programs would or would not be affected.

Most defense programs would be cut by 9.4 percent, while domestic programs would see an 8.2 percent reduction.

White House: Looming federal budget cuts would be 'deeply destructive' 09/14/12 [Last modified: Friday, September 14, 2012 11:28pm]
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