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Gov't Downsizes Amid GOP Demands For More Cuts

Republicans oppose any new taxes, even if for closing loopholes rather than increasing rates.

The president has been making campaign-like trips to highlight the damage the pending sequester cuts would be to various sectors of the economy. On Tuesday he'll go to a shipbuilding company in Newport News, Va., the White House announced.

"In just seven days, a series of automatic cuts could go into effect that would severely affect companies, like this one, that depend on the defense industry and its workers," White House spokesman Jan Carney said Friday.

The looming spending cuts were first scheduled to take effect on Jan. 1. But they were postponed to March 1 as part of year-end "fiscal cliff" negotiations that also raised tax rates on affluent Americans. Republicans insist that's enough tax increasing for now.


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Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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