MIAMI (CBSMiami) – Unless Congress comes to some sort of agreement by March 1st, a series of automatics cuts called sequester will go into effect that will cut services to children, seniors and those serving our country.
The White House has warned that hundred of thousands of middle class jobs could be in jeopardy.
In a statement from the Obama administration, officials said that President Barack Obama has put forward a balanced plan to not only avoid sequester but also to reduce the deficit by more than $4 trillion in total.
Many Republicans in Congress, according to the statement, refuse to close tax loopholes for the wealthy to help protect investments that are helping to grow the economy.
The White House has said Mr. Obama is willing to compromise but will not accept a deal that undercuts the economic security of the middle class.