Obama said he thinks the cuts can be replaced by combining a different set of spending cuts with entitlement reform and changes to the tax code, without raising anyone’s tax rates.
“A majority of the American people agree with me on this approach, including a majority of Republicans. We just need Republicans in Congress to catch up with their own party and the rest of the country,” he said.
Republicans remain adamant that no tax hikes be used to replace the spending cuts.
Obama called the spending cuts unnecessary, adding that they are only happening because “Republicans in Congress chose this outcome over closing a single wasteful tax loophole that helps reduce the deficit.”