Obama Says Cuts to Be `Slow Grind' on U.S. Economy

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March 1 (Bloomberg) -- President Barack Obama speaks at a news conference in Washington about $85 billion in automatic federal spending cuts set to start today, the Violence Against Women Act and same-sex marriage laws. Obama met today with Republican House Speaker John Boehner and other legislative leaders after first a congressional supercommittee and then a new election failed to settle political differences over how to reduce the federal budget deficit. (Source: Bloomberg)