The Morning Wrap

Spending Cuts: The economy, the middle class and several basic U.S. Justice Department priorities would suffer if Congress fails to stop severe federal spending cuts from taking effect on March 1, President Barack Obama said on Tuesday, The National Law Journal reports. Federal prosecutors "will have to close cases and let criminals go," he said.

SCOTUS: The U.S. Supreme Court on Tuesday issued four opinions on issues ranging from antitrust to drug-sniffing dogs. The National Law Journal takes a look.

Jackson Case: Former Representative Jesse Jackson Jr. (D-Ill.) and his wife are set to appear before U.S. District Judge Robert Wilkins in D.C. on Wednesday, The Associated Press reports. They are facing charges related to an alleged scheme to spend $750,000 in campaign funds on personal items.

Oil Spill: U.S. District Judge Carl Barbier in New Orleans on Tuesday endorsed a $1 billion partial civil settlement with Transocean Ltd., owner of the Deepwater Horizon drilling rig that exploded in the Gulf of Mexico in April 2010, The Times-Picayune reports.

Retiring General: Marine General John Allen, who took command of the war in Afghanistan in July 2011, will retire because his wife is seriously ill, The Washington Post reports. President Barack Obama had hoped to make him the supreme allied commander in Europe.