McConnell: Spending cuts modest, reduce US debt

WASHINGTON (AP) ? The Senate's Republican leader says the automatic spending cuts that just started to kick in are modest and a step toward curing Washington of its "spending addiction."

Sen. Mitch McConnell says the across-the-board cuts are not as devastating as some predicted. The Kentucky Republican also says families have had to trim their budgets and can appreciate Washington's step to curb spending.

McConnell says the entire idea of the automatic spending cuts came from President Barack Obama's staff. Those cuts were set to take effect only if Congress and the White House failed to reach a bargain to reduce the nation's debt, but without a deal those deep cuts began to take hold on Friday.

McConnell appeared on CNN's "State of the Union."

Source: http://news.yahoo.com/mcconnell-spending-cuts-modest-reduce-us-debt-144012790--finance.html

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