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Today President Obama called for “a smaller package of spending cuts and tax reforms that would delay the economically damaging effects of the sequester for a few more months until Congress finds a way to replace these cuts with a smarter solution.” This came as the CBO announced that austerity budgets have already hurt the economic recovery, while Senate Republicans proposed to replace defense cuts with federal workforce attrition. Will Congress pass a balanced package to avoid the 2011 Budget Control Act’s sequester mandates?