President Barack Obama speaks in the East Room of the White House in Washington, Monday, July 9, 2012. Facing sagging jobs numbers, President Barack Obama seeks to recast the election as a debate over tax fairness, calling for a temporary tax cut extension but just for low and middle income earners. The president�s pitch is aimed at painting Mitt Romney as a protector of the rich while ramping up questions about the Republican challenger�s own wealth. (AP Photo/Susan Walsh)
WASHINGTON (AP) - A White House report is warning that $110 billion in across-the-board spending cuts at the start of the new year would be "deeply destructive" to the military and core government responsibilities like patrolling U.S. borders and air traffic control.
The Obama administration says the automatic cuts, mandated by the failure of last year's congressional deficit "supercommittee" to strike a deal, would require an across-the-board cut of 9 percent to most Pentagon programs and an 8 percent cut to many domestic programs.
The cuts, combined with the expiration of Bush-era tax cuts at the end of this year, have been dubbed a "fiscal cliff" for the country. Economists warn that the one-two punch could drive the economy back into recession.
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