How bad are forced spending cuts?

White House says it’s not overhyping cuts

Published: Mar 04 2013 06:50:23 PM EST Updated On: Mar 05 2013 09:16:15 AM EST

President Barack Obama is insisting that Americans will start feeling the pain from the forced budget cuts that are now going into effect. And while the White House is rejecting the notion that it's engaging in hype, one cabinet secretary has acknowledged he had his facts wrong on the budget cut fallout.

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