On Tuesday, President Obama demanded that Congress move quickly to avert the across-the-board spending cuts -- including a 2% reduction to Medicare reimbursements -- in the sequester, The Hill's "On The Money" reports. The mandated spending cuts under sequestration involve about $1 trillion in across-the-board reductions. In January, President Obama signed legislation -- negotiated by Vice President Biden and Senate Minority Leader Mitch McConnell (R-Ky.) -- that delayed the cuts by two months to March 1.
