President says spending cuts triggered Friday will cause 'real pain'

Carter said a lack of flying time could eventually cause some pilots to lose their rating, which means they would not be able to fly.

State's situation

Gov. Mary Fallin said Friday that state agencies have been preparing for possible cuts in federal funds and that an immediate loss in services is not expected.

“With that said, it is clear the sequester is creating a chaotic and uncertain environment for businesses looking to invest, state governments tasked with crafting budgets, and those who receive federal benefits or who work for or contract with the government,” Fallin said.

“That uncertainty is bad for the economy and is destroying jobs. Furthermore, the large and seemingly haphazard cuts to military spending reduce the effectiveness of our armed services and hurt the economies of states with large military presences, such as Oklahoma.”

Republicans have been critical of how the cuts are structured, and the House last year passed two bills that would have reallocated them.

However, they don't want to reduce the amount that is ultimately cut or raise taxes to replace all or part of them.

Obama contends the $1.2 trillion in deficit reduction required over 10 years from the 2011 deal shouldn't be done with cuts alone.

“What I can't do is ask middle-class families, ask seniors, ask students to bear the entire burden of deficit reduction when we know we've got a bunch of tax loopholes that are benefiting the well-off and the well-connected, aren't contributing to growth, aren't contributing to our economy,” Obama said.

Rep. Markwayne Mullin, R-Westville, said: “The higher taxes President Barack Obama is campaigning for will not help our businesses, families or the economy.

“However, spending cuts and staying on course to a balanced budget will help Oklahoma taxpayers who have already been hit by spiking gas prices and an increase in the payroll tax.”