Nightly News   |  February 05, 2013

Obama calls for spending cuts, tax reforms

In order to avoid the big spending cuts due to take effect March 1, President Obama is asking Congress to put off the ‘harmful consequences’ by passing a small budget package. NBC’s Brian Williams reports.

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This content comes from Closed Captioning that was broadcast along with this program.

>>> well, first we had the fiscal cliff crisis and the debt ceiling drama, now president obama is calling on congress to get past the next term we all need to turn, the sequester. big, across-the-board spending cuts that are due to take effect the 1st of march. the president called today for a limited package of spending cuts and tax reforms to avoid the deadline. republican speaker of the house john boehner rejected that, saying republicans want a bigger agreement on a long-term deficit reduction