Last night, President Obama made remarks that looming sequestration cuts should not send Americans into crisis mode. “I should point out, and I’m sure you’ve heard from a number of experts and economists that this is not a cliff, but it is a tumble downward,” he said.

Special Report anchor Bret Baier joined America’s Newsroom and described the president’s remarks as the “beginning of the walk-back of the messaging as we get ready for the eventuality that [the sequester] will really kick in barring some last-minute deal at the White House.”

He continued, “The reality is that these furloughs, if they happen, would happen after 60 days notice according to federal law.”

On the question of whether the White House's credibility has been damaged by the “hype” campaign, Baier said that it definitely hurts the administration. There was an urgent message from the president out on the stump to pressure Republicans to the bargaining table, but the GOP did not budge.

Watch the full discussion and let us know how you feel about the sequester: