Obama chides GOP for killing plan to address cuts
President Barack Obama is chiding Senate Republicans for blocking a Democratic plan to replace automatic spending cuts that are set to kick in Friday.
Senate Republicans objected to $55 billion worth of new taxes in the Democratic plan. It would have replaced the cuts with tax increases on millionaires and spending reductions over 10 years.
Obama says Republicans chose to cut services for kids, older people and the military rather than close loopholes for the rich. He says Republicans want the middle class alone to pay for deficit reduction.
Republicans floated their own plan to give Obama more flexibility to find $85 billion in spending cuts this year. Democrats and tea party Republicans killed that plan Thursday.
Obama and congressional leaders are to meet Friday to discuss potential ways ahead.