Obama to deliver remarks about sequestration

Story highlights

  • The president will speak at 10:45 a.m. on the looming sequestration
  • The sequester is a term for automatic budget cuts
  • Obama wants to compromise with the GOP

President Barack Obama will deliver remarks Tuesday morning urging action to avoid the automatic across-the-board budget cuts called the sequester, a White House official said.

The cuts are scheduled to hit Friday, March 1 "if Congress fails to find a path forward on a balanced deficit reduction," the official said in a statement. The reductions could spur the loss of thousands of jobs.

The president will urge Republicans to compromise on a balanced solution. He is scheduled to speak at 10:45 a.m. in the South Court Auditorium at the White House.