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Potomac Research Group Chief Washington Strategist Greg Valliere weighs in on Obama’s comments regarding the sequester.
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-- is the with us as well great having you listen to all this market over the last couple days hasn't really reacted to the scare tactics.
President backed off a little bit today sky obviously didn't fall but.
People are gonna lose their jobs are so will that really hurt the economy.
Well I'm back a little it was a very young I'm helpful -- -- by Obama yes and I would say this.
The bigger story that the markets are -- to have to look at involves march 27 that's the next crisis right so it's entirely possible.
That we would have a continuing resolution from the house that restores all of funding from the Pentagon.
A continuing resolution from this Democrats in the senate -- -- always spending for domestic discretionary spending if you have to competing bills.
I don't rule out talk about a government shutdown as we get close to the 27.
All right let's go to Peter -- he's -- the White House following the meeting.
Only today between the president and congressional leaders the approaching crisis notwithstanding Peter.
Well Dennis clearly the White House strategy obviously collect these sequester -- unfold.
And they will unfold over time but -- White -- counting.
On real cuts and furloughs land and -- the impact of this.
Eventually.
A starting to get down to.
Voters.
Directly and so that they turn around and put pressure on Republicans to come back to the table and try to cut a deal Republicans on the other hand.
Our content to live with these spending cuts you know most of them feel that if this is the only way to get them and to get.
At least this first year and in over ten years -- be over trillion dollars.
Then stay the course they think that that the politics for them.
For them are good on this -- let's hear.
Rick Jensen over up on Capitol Hill with reaction erected seems like both parties pursuing gridlock as a strategy playing -- Not.
It is you've heard and a house speaker John Boehner at the White House before the president spoke he said it no new revenue.
President Obama kept repeating his same position saying that he simply hoping.
To convince Republicans of his positions and no sign of concert are compromise when it comes.
These are budget cuts that are scheduled to begin hitting the federal budget today but -- -- -- -- opens -- -- Gregg said here.
And that's a good point that the next fight is this government shut down possibility march 27 Republicans next week -- -- speaker John Boehner.
Will vote and he says will pass.
A government funding measure to fund the government for the rest of the fiscal year averting a government -- but that's something that the senate has to sign off on as well.
Republican aides are telling us that what they will produces a bill.
That does include funding levels that include these spending cuts the sequester so it's a lower government spending level.
That includes all of these spending cuts that Democrats Republicans haven't figured out a way to avoid yet.
What they come out with though in the specifics of that how military spending is treated how labor spending is retreated just they're treated.
That's something the Democrats Republicans in the house and senate.
Are still arguing over right now -- President Obama did.
Give a decent signal here -- that we may have to avoid a government shutdown on March 27 and if he got a bill that reflected current law which is all these spending cuts.
And he would sign it because that was part of the deal he made -- a pretty good indication at least early on.
That we might be avoiding government shut down but we still have to see this play out over the next Wednesday's -- It sets and thank you very -- we don't want -- inspect you you know adamant pick up on -- -- -- -- as well these comments -- almost useless.
We talked about violence against women early childhood education gay marriage and still addressing spending you know an end and the idea that -- that you don't first of all.
-- as saying.
Good talking about cuts it has to be there in the first place in order to cut something -- why shouldn't be there in the first place why should they keep continuing to raising -- and spend and spend and spend and then debate about cut it shouldn't be there in the first place that's one of the problem the second -- -- He said I'm talking to where here we represent the whole country in the meantime he turns that around -- -- the Republicans and the Democrats -- makes it.
Did.
Both parties are buying -- something.
That it's a competition it's not a competition they all should be end and you should -- do.
The fact that he doesn't -- and he says -- it's the other side who doesn't do this they won't build it quiet because he's taking a position himself right he's taken a position you should be able to compromise is well you know.
Regret about -- the -- about 46 points over 141100.
Maybe Americans get the benefit crisis fatigue we just don't even believe -- Washington what do you say.
Yeah could be in Ben Bernanke is up a whole part of this narrative we don't have time to talk about that let me just make this other point but I think maybe.
Really important in the ongoing days.
The and elephant in the room is entitlements.
The fact that there's not a serious plan even to address this Social Security cola change -- very tiny little change in the CPI.
If the president is unwilling to support -- I think that's a big part of the problem.
We have certainly live -- -- there creek valley.
