White House pushes Congress to avert shutdown

The White House on Friday warned that a looming US government shutdown "would be bad for the economy" as it urged feuding lawmakers to reach a budget compromise by a March 4 deadline.

"All of us agree that a government shutdown would be bad for the economy," said spokesman Jay Carney, who told reporters "we believe that a compromise can be reached" in hard-fought congressional negotiations.

His comments came as US President Barack Obama's Republican foes, who control the House of Representatives, unveiled a two-week stopgap spending measure that would cut $4 billion dollars by reducing or scrapping programs.

Senate Democrats were reportedly working on their own version, a seven-month extension that would accelerate some $33 billion in spending cuts and program terminations included in Obama's proposed budget for next year. ...

via Activist Post: White House pushes Congress to avert shutdown.