PRESIDENT OBAMA: "Now, lately, some people have been saying, well, maybe we'll just give the President some flexibility. He could make the cuts the way he wants and that way it won't be as damaging. The problem is when you're cutting $85 billion in seven months, which represents over a 10-percent cut in the defense budget in seven months, there's no smart way to do that. There's no smart way to do that. You don't want to have to choose between, let's see, do I close funding for the disabled kid, or the poor kid? Do I close this Navy shipyard or some other one? When you're doing things in a way that's not smart, you can't gloss over the pain and the impact it's going to have on the economy."