President Obama said that the economy is already been affected by looming automatic spending cuts. Whereas it has been warned by a top administration official that if billions of dollars are yanked from the budget Friday then the borders of the nation would be less secure.
The president said that the as the uncertainty is already having an effect, the companies have been preparing layoff notices. Families have also started to prepare for cutting back on expenses. The president believes that the longer these cuts are in place, the bigger the impact will become.
The impact of the budget cuts may not be felt immediately, but the uncertainty created by the cuts is already having an effect on the economy.
Despite the urgent rhetoric, there was no indication that the White House and congressional Republicans have been actively negotiating a deal to avoid the cuts ahead of the end-of-week deadline.
It has been expected that everything from commercial flights to classrooms to meat inspections could get affected by the $85 billion budget-cutting mechanism.
Domestic and defense spending have been expected to be trimmed alike which might result in the furlongs for hundreds of thousands of government workers and contractors.
On Sunday, his administration increased the pressure on Republicans in Congress on Sunday by releasing state-by-state reports on the impact of the looming budget cuts, an effort designed to get lawmakers to compromise or face unhappy constituents at home.