Automatic cuts will have to wait until midnight
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President Barack Obama isn't likely to order the automatic spending reductions until as late as possible on Friday to allow for a deal of some sort to be made.
WASHINGTON The White House says automatic spending reductions set to kick in Friday will be put off until as close to midnight Friday night as possible. Call them the Cinderella cuts.
The law, passed by Congress on Jan. 2 simply says that "on March 1, 2013, the president shall order a sequestration for fiscal year 2013." That's budget talk for an $85 billion reduction in defense and domestic spending between now and Oct. 1. Obama can issue that order at any point in the day.
And White House press secretary Jay Carney says that means midnight, Friday or as close to midnight as possible: 11:59 p.m. and 59 seconds.
Because, Carney's says, Obama is "ever hopeful."
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