President Obama said the automatic budget cuts- known as sequestration – slated to go into effect Jan. 2 will not happen.
Speaking at a presidential debate last night with Republican presidential candidate Mitt Romney, Obama said it was not a policy he proposed.
“It is something that Congress has proposed. It will not happen,” Obama said.
The cuts are required by last year’s Budget Control Act unless Congress and the Obama administration agree on a path to reducing budget deficits by $1.2 trillion through 2021.
Romney said that sequestration was “unacceptable.”
“That, in my view, is making – is making our future less certain and less secure,” Romney said.
The Defense Department has not commented on sequestration in the past except to say the agency was not planning for it.