President Obama Warns No Budget Deal Means Economic Pain -- McClatchy News
President Obama took to a White House lectern to warn that he and Congress' failure to meet an agreement on avoiding $85 billion in spending cuts means "many middle class families will have their lives disrupted in significant ways."
"All of this will cause a ripple effect throughout our economy," Obama told reporters, minutes after an 11th-hour meeting between he and congressional leaders failed to yield an agreement. "Layoffs and pay cuts means that people have less money in their pockets, and that means that they have less money to spend at local businesses. That means lower profits, that means fewer hires."
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MIDDLE EAST
Syrian rebel chief says his fighters are in desperate need of weapons, not food, bandages.
Heavy fighting over police academy in north Syria.
U.S. steps up aid, but Syria’s rebels want arms.
Britain, France may provide military aid to Syrian rebels.
Syria crisis: John Kerry in Ankara for US-Turkey talks.
Tens of thousands of Yemenis demand Saleh trial.
Iran steps up arrests, torture, executions: U.N..
Deadly bombs strike Iraq day after blasts.
Netanyahu seeks time to build new Israeli coalition.
Israel: Hizbullah got Scud D missiles from Syria with 700 km range.
Israel, Turkey row over Zionism deepens rift between ex-allies.
ASIA
Pakistan-Iran pipeline work 'to begin on 11 March'.
South Korea vows active support of U.N. probe into North Korean rights abuses.
Karzai seeks control of all Afghan armed units.
Malaysia standoff with armed Filipinos erupts in violence. Sabah stand-off 'turns deadly' as clashes break out.
Rohingya refugees stir debate on rising sectarian violence.
New clashes erupt in Bangladesh.
Japan scrambles fighters to meet China plane.
China moves ahead with North Korea trade zone despite nuclear test.
China parades prisoners ahead of execution. China to execute drug gang over Mekong river massacre.
China sets its 5th manned space mission for summer.
Report: Fukushima's radiation damaged more souls than bodies.
AFRICA
Libyan leader vows to stand against militia.
Videos expose Kenya cash-for-votes scandal.
DRC rebels replace leader.
DR Congo: APCLS militia in deadly Kitchanga battle.
African leaders call for U.N. mandate for Mali mission.
Sudan violating sanctions with Darfur air strikes: U.N. panel.
Sudan sends more troops to volatile border state.
Christians grow anxious in '100 percent' Islamic Sudan.
Gadhafi’s weapons flooded Africa, Middle East as the West looked for missiles.
UN accused of cover up Zimbabwe cholera.
Egypt quietly stifles NGOs by cutting off foreign cash flow.
South African policemen arrested, to face murder charges. S Africa suspends police over custodial death.
EUROPE
Italy election: President Napolitano rejects new polls.
Ukraine may pardon jailed opposition leader.
Protesters block dismantling of part of Berlin Wall.
Eurozone jobless hits another record.
A glance at Europe's unemployment rates.
Italy jobless rate jumps to record high of 11.7 percent in January.
Italy's center-left leader rules out coalition with Berlusconi.
Britain heads for new recession.
UN court clears ex-Yugoslav army chief. Momcilo Perisic: Yugoslav army chief conviction overturned.
Cardinals begin long process of picking new pope.
AMERICAS
New budget crisis begins after Washington fiscal talks fail.
Detroit cash woes prompt emergency.
U.S. oil is booming, led by Texas and North Dakota.
Consumer spending in U.S. climbs even as taxes hurt incomes.
Venezuela rejects "absurd" rumors over Chavez death. Venezuelan VP: Chavez fighting for his life. Analysis: Chavez's cancer puts Venezuela on undeclared vote footing.
Mexico union replaces Elba Esther Gordillo.
Brazil economy grew 0.9% in 2012.
TERRORISM/THE LONG WAR
Now Al-Qaida wants to torch your car and snarl your commute.
US to aid Syrian groups that support al Qaeda's affiliate.
Al Qaeda commander Abu Zeid killed in Mali: Ennahar TV.
Al Qaeda mag publishes 'Wanted: Dead or Alive' list.
ECONOMY/FINANCE/BUSINESS
Einhorn drops lawsuit vs Apple, ends challenge.
Tests find horsemeat in Taco Bell UK ground beef.
SpaceX rocket blasts off for space station cargo run. SpaceX rocket launched but problem with thrusters.
Google CFO says company keeping $48 billion cash stash for possible acquisitions, investments.
Moscow is billionaires' capital of the world.
Asia has more super rich than N. America.
Groupon fires CEO Andrew Mason: The rise and fall of tech’s enfant terrible.
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