Obama says U.S. will survive 'dumb' spending cuts (5)

U.S. President Barack Obama delivers a statement on the sequester at the White House in Washington D.C., capital of the United States, March 1, 2013. U.S. President Barack Obama said Friday that the across-the-board government spending cuts were "dumb" but the nation will survive the so-called "sequester." (Xinhua/Zhang Jun)