Source: CBS
After the supercommittee failed to reach a deal to reduce the deficit, President Obama on Monday said he’ll block attempts already in the works to undo automatic spending cuts.

This from the AP:

The White House is being forced to acknowledge the wide gap between its once-upbeat predictions about the economy and today’s bleak landscape.

The administration’s annual midsummer budget update is sure to show higher deficits and unemployment and slower growth than projected in President Barack Obama’s budget in February and update in May, and that could complicate his efforts to get his signature health care and global-warming proposals through Congress.

The release of the update – usually scheduled for mid-July – has been put off until the middle of next month, giving rise to speculation the White House is delaying the bad news at least until Congress leaves town on its August 7 summer recess.

Putting off the release so you can keep lying to the American people about the numbers, now that’s change I can believe in.