Obama, Republicans face off as sequester looms

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Reuters/file 2013President Obama calls on Republicans for “just a little compromise” to avoid federal spending cuts scheduled to begin Friday.

SAN FRANCISCO (MarketWatch) — President Barack Obama and congressional Republicans stuck to their guns Saturday, clashing over who will responsible if automatic federal spending cuts go into effect on Friday.

The sequester, which originally was meant to occur on Jan. 1 before it was pushed out to March 1, comprises up to $85 billion in automatic spending cuts this year.

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