"It will not happen," President Barack Obama said about the $1 trillion sequestration – automatic budget cuts scheduled to go into effect at the end of the year.
Obama, however, previously threatened to veto a House bill that would have repealed the scheduled cuts to the U.S. military budget – cuts that Defense Secretary Leon Panetta said would have a disastrous effect.
Air Force Times reports:
The White House on Wednesday issued a sharp veto threat of a bill tailored to avoid Pentagon budget cuts slated to take effect in January.
The veto threat came in a state of administration policy that stated White House officials believe the bill ‘fails the test of fairness and shared responsibility.'