Like the well publicized fiscal cliff, there's another financial deadline looming and it comes in 10 days.
Congress has until March first to come up with a solution or sequestration takes place, which means 85-billion dollars in cuts.
Right now congressional leaders are at home instead of in Washington D.C. hammering out a plan.
Third District Republican Congressman Walter Jones says,"We need to be with the people to explain what's going on, because being up there we're not going to do anything."
President Obama says without a deal to prevent 85-billion dollars in cuts, the economy will falter with cuts in defense, health care and education.
Jones says there's still too much big government. "You keep spending what you don't have and both parties are just sick and tired of going to government because we don't have the money to pay for it. We are borrowing money everyday in this country."
So will there be a compromise in time? Jones says the president will need to get all the players together, like during the fiscal cliff talks, to make it happen. But unlike this past December when the deal came down three days before the new year, Jones says another extension should be out of the question. "That's not the answer. The answer is deal with what we have by not growing the government. "
The president has called on Republicans to back a plan proposed by Senate Democrats that would offset the sequester through a combination of increased tax revenue and targeted budget cuts. GOP lawmakers are opposed to more tax revenue, saying President Obama got the tax increases he wanted during the "fiscal cliff" negotiations.
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