Obama: 'Sequester' Budget Cuts a Bad Idea

President says harsh, arbitrary cuts jeopardize military readiness, education, energy and medical research.
0:47 | 02/12/13

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Transcript for Obama: 'Sequester' Budget Cuts a Bad Idea
In 2011 congress passed a law saying that if both parties couldn't agree on a plan to -- ups -- gold. About a trillion dollars worth the budget cuts would automatically go into effect this year. These sudden. Harsh. Arbitrary cut would jeopardize -- military readiness. They devastate priorities like education and energy and medical search. They would certainly it's -- -- And cost us hundreds of thousands of jobs. That's why Democrats Republicans business leaders and economists have -- served of these cuts. Known here in Washington as the sequester. A really bad idea.

This transcript has been automatically generated and may not be 100% accurate.

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