Obama signs spending bill to avoid shutdown

President Obama signed legislation Wednesday to extend funding for the government through March 18. 

Obama signed into law Wednesday afternoon the two-week continuing resolution that passed the Senate earlier that day. The House approved it Tuesday. 

The move has the effect of preventing a government shutdown on Friday, March 4, when funding was set to run out.

This bill funds government for another two weeks at reduced levels, cutting $4 billion from the budget.

In the meantime, Obama has demanded immediate meetings between White House Chief of Staff William Daley, Budget Director Jack Lew and Democratic and Republican leaders in Congress to hash out a long-term deal before funding runs out on March 18.