Tuesday, June 18 2013, 11:05 AM MDT
Clock Is Ticking On Sequester Cuts
(CBS) There are only six day remaining until the March 1 deadline for deep and automatic federal spending cuts
The "sequester" as its known, would impose $120 billion in automatic cuts to federal spending. In his weekly address on Saturday President Obama tried to put Republicans on the hot seat.
"These cuts don't have to happen," Obama said. "Congress can turn them off anytime with with just a little compromise."
If Congress fails to act, there will be serious consequences. Military and domestic spending will be slashed and many believe the struggling economy will suffer.
Yet, Republicans say they have a plan to avoid sequester, but they say the president won't work with them on it. President Obama says the middle
class will suffer the most if these massive spending cuts come to fruition.