TODAY   |  February 23, 2013

What do possible spending cuts mean for you?

It’s just six days away from the across-the-board spending cuts and there’s no deal in sight. Hundreds of thousands of government employees could be furloughed and economists warn the economy could suffer in the long run. NBC’s Kristen Welker reports.

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>>> there's a storm of another kind brewing in washington today. we're less than a week now away from mandatory government spending cuts going into effect. just this morning the president warned how it could affect you if congress fails to act. kristin welker is at the white house with more on that. good morning.

>> reporter: lester, good morning to you. president obama has said he plans to have conversations with congress this weekend and into next week. but with both sides dug it, it seems increasingly likely that the sequester will go into effect. in his weekly address, president obama said it's up to congress to act.

>> here's the thing -- these cuts don't have to happen. congress can turn them off any time with just a little compromise. they can pass a balanced plan for deficit reduction. they can cut spending in a smart way and close wasting tax loopholes for the well off and well connected.

>> reporter: in an effort to pressure congress, the obama administration has really been painting a dire picture of what will happen if the sequester kicks in. on friday, outgoing transportation secretary, ray lahood , warned the faa will have to furlough 47,000 employees which he argued could slow air travel .

>> travelers should expect delays. flights to major cities like new york, chicago, and san francisco and others could experience delays of up to 90 minutes during peak hours because we have fewer controllers on staff. delays in these major airports will ripple across the country.

>> reporter: the administration has also warned 800,000 civilian defense department workers will be furloughed. 10,000 teachers and educators could be laid off, and some border patrol agents would see a decrease in hours. house speaker john boehner 's office responded late friday saying the president has been "far more interested in holding campaign-style rallies than urging his party in the senate to find a solution." now the sticking points are funding with president obama calling for new tax revenue and republicans saying they want to see this worked out through entitlement reform and spending cuts. but with just six days, there is really no resolution in sight. lester?

>> kristin welker this morning. thanks.