President Obama to Warn of Next Budget Crisis

Obama is expected to warn against automatic spending cuts set to hit every government program.
1:21 | 02/19/13

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Transcript for President Obama to Warn of Next Budget Crisis
obama will appear later this morning, to warn against the next budget crisis that's coming fast. Automatic spending cuts to hit every government program in just ten days. Abc's jon karl has more on what we expect to hear from the president. Good morning, jon. He's going to ratchet up the pressure on congress. Reporter: He sure is. He's trying to shame congress to do something to replace the cuts. And this morning, the president will be surrounded by emergency WORKERS, FIREFIGHTERS, EMTs AND Others. To say if the cuts go into effect in ten days, fema will be forced to cut grants to local and state governments for emergency workers and firefighters and other emergency workers will see their jobs on the line. The biggest picture, george, he'll warn that these cuts go into effect, it will hurt the economy at charge. And that means hundreds of thousands of middle-class jobs potentially at risk. And the president says he is willing to negotiate a deal that would include some spending cuts and revenue increases. But the chance of these happening and the chances of across-the-board cuts are dwindling to almost zero, right? Reporter: The cuts are almost certainly to go into effect. Republicans said no tax increases. And they're not negotiating right now. Congress is in recess for the next week. And another big one coming at the end of the month, when the whole government runs out of Jon karl, thanks very much.

This transcript has been automatically generated and may not be 100% accurate.

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