Congress has until March 1 to come to an agreement over a plan to lower the national deficit before automatic cuts to federal funding are made to military, schools, health care and programs designed to help the middle class with job allocation and performance.
According to the White House, the cuts will reduce government allocated funds for Texas education by about $67 million, and cuts to funding for Military operations, including Air Force, Navy and Army, would exceed $260 million, also leading to massive furloughs in civilian staff.
According to the release, if an agreement isn't made, the consequences of the cuts could be felt nation-wide as early as this year.
The president has supported an alternative plan to the sequester including asking the wealthy to pay more for health care, and limiting tax deductions for the wealthy. Of course, this plan would also make cuts to funding for Medicaid, retirement programs and agriculture. The plan also involves cuts to both military and non-military programs by $200 billion.
The plan proposed and outlined by the Obama administration is designed to reduce the deficit by about $4 trillion.
To go to the White House blog and read about the President's plan as well as past budget cuts made by the Obama administration, click here. Click here to see the plan itself.
Also, for a more specific look at the cuts that would automatically take place under the sequester if an agreement is not made by March 1, click here to read the document released by the White House Press Secretary.