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From our studios in new york city, this is charlie rose. Rose Lawrence Summers is here, he is a professor at harvard, where he was president from 2001 to 2006. He was treasury secretary under esideninton and returned to the white house in 2009 as advisor of the National Economic council, in that role he was central to president obamas the response to the financial crisis, he is here to talk about the scwes officer imposed in summer of 2011 and intended as a consequence so unacceptable congress and the president would have to agree on revenue increases and spending cuts in order to avoid it. With three days to go they have not been able to do that, the first 85 billion about spending cuts will take effect on march 1st, ben bernanke testified to cock earlier today he promised to extend the Federal Reserve stimulus measures and make made a direct appeal to avoid the sequester. The congress and the administration should consider replacing the sharp front loaded spending cuts required by th

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