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Pentagon chief sounds alarm over US budget cuts

Defence Secretary Chuck Hagel sounded an alarm bell about budget cuts he said threaten America`s security and global military role, while "gambling" over the risk of an unexpected threat.

Barack Obama jokes about budget cuts, Biden at exclusive dinner

US President Barack Obama was in his elements over a whopping USD 85 billion forced spending cuts his administration was facing, saying, "My joke writers have been placed on furlough."

Obama signs order to begin $85 billion in spending cuts

The sequester is "dumb" but is "not going to be an apocalypse," Obama said after his nearly hour long meeting with the Congressional leaders.