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U.S. President Barack Obama speaks about the sequester after a meeting with congressional leaders at the White House in Washington on March 1, 2013. (REUTERS/Kevin Lamarque)

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Obama formally orders 'deeply destructive' cuts, blames Congress

WASHINGTON -- President Barack Obama formally ordered broad cuts in U.S. government spending Friday night after he and congressional Republicans failed to reach a deal to avert automatic reductions that could dampen economic growth and curb military readiness.. As the United States staggered into another fiscal crisis, the White House


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