Sequester Countdown: Defense Could Shoulder Majority of Cuts

President Obama warns that looming spending cuts would hurt defense system.
1:31 | 02/26/13

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Transcript for Sequester Countdown: Defense Could Shoulder Majority of Cuts
Tonight, meanwhile, congress has just two days left now to make a deal or automatic spending cuts will kick in on friday. And this evening, the president arguing it would not only hurt jobs, but among other things, the country's defense. Abc's chief white house correspondent jon karl breaking it down tonight. Reporter: The president took his battle over looming spending cuts to the giant military shipbuilding facility in newport news, virginia. Warning of lost jobs and worse. This work, along with hundreds of thousands of jobs, are currently in jeopardy, because of politics in washington. Reporter: Not just jobs, national security at risk, too. Across the bay in norfolk is the "uss harry truman." It is supposed to be on its way to the persian gulf, but has to stay docked because of the cuts. Back in washington, it's getting ugly. We should not have to move a third bill before the senate gets off their ass and begins to do something. Reporter: Caught in the middle, the workers. Something ever happens, i would lose my house, everything. Reporter: The pentagon calls the cuts stupid. And it's hard to disagree. Get this. There's billions of dollars the pentagon wants to cut, but isn't allowed. Like the upgraded m-1 abrams tank, $3 billion. And the upgraded global hawk spy drone, $2.5 billion. With just over 48 hours until these cuts go into effect, you might think there would be urgent meetings going on here at the white house or up con capitol hill, but you would be wrong. There are no meetings or even phone calls on the schedule right now between the president and republican leaders.

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

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