Obama on Sequester: It's Just Dumb

Speaking to reporters on Friday about the sequester -- the automatic spending cuts required by the Budget Control Act and slated to go into effect today after Congress failed to come up with a longer-term plan for deficit reduction -- President Obama was blunt when it came to his view of the cuts and of the Republicans he blamed for them.

"This is not the apocalypse. It's just dumb," he said. And he asserted that the economic impacts that the nation will experience will be "happening because of a choice Republicans in Congress have made."

Read more at CBS News.

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