President Proposes Short Term Fix

NATION (WIFR) -- President Obama is asking Congress to head off automatic spending cuts that could hurt the economy if they kick-in as scheduled March 1st. The president is proposing a smaller budget deal now, in the hopes of reaching a 10-year deal down the road.

President Obama is calling on Congress to stop massive automatic across the board spending cuts with a short-term fix.

"Our economy right now is headed in the right direction. And it will stay this way, as long as there isn't any more self-inflicted wounds coming out of Washington,” said the President.

Last year Congress and the President signed-off on the automatic cuts to forces themselves to deal with the nation's skyrocketing debt. The original deadline was January 1st and when they couldn't reach a larger budget deal then - they postponed it to March 1st.

"We should give them the chance to come up with this budget instead of making indiscriminate cuts now that will cost us jobs and significantly slow down our recovery."

The President continues to push an approach that includes more tax revenue along with spending cuts, but House Speaker John Boehner says tax hikes are out of the question.

“Every month under President Obama kind of feels the same -- high unemployment, rising prices, and more debt for our kids and our grandkids,” said Speaker of the House, Representative John Boehner.

Speaker Boehner says he doesn't want another temporary fix. Some House Republicans have indicated they will let the automatic cuts take effect if there's no long-term agreement to reduce the deficit. Those cuts would take a big bite out of military spending and domestic programs - including a two-percent hit to Medicare.

Obama isn’t placing a time span or dollar amount on the short-term plan. Aides say he will leave that to Congress.

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