Reuters: Regulatory News: Obama points finger at Republicans for failure to avert spending cuts

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Obama points finger at Republicans for failure to avert spending cuts Mar 1st 2013, 16:54 WASHINGTON, March 1 | Fri Mar 1, 2013 11:54am EST WASHINGTON, March 1 (Reuters) - President Barack Obama heaped blame on Republicans on Friday for the failure to break a deadlock in efforts to avert looming automatic spending cuts and warned that a "ripple effect" would start hurting the middle class and the overall U.S. economy. Obama, following a White House meeting with a bipartisan group of congressional leaders, said he would keep on reaching out to a "caucus of common sense" among lawmakers on Capitol Hill and is looking for a compromise in coming days and weeks once the cuts take effect later on Friday.

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