Meeting between President Obama, congressional leaders yields no progress in avoiding sequester

WASHINGTON -- President Barack Obama says Americans will get through the automatic spending cuts kicking in Friday.

Obama says the nation shouldn't be making "dumb and arbitrary" cuts. He says Republicans have allowed the cuts to happen.

Obama stays he still believes the cuts can be replaced, but he wants a deal that includes more taxes.

READ: Sequestration and how budget cuts could affect you (http://bit.ly/ZJ0etV)

He says as long as the cuts stay in effect, Americans will know that the economy could have been better had they been averted.

Obama spoke after a meeting with congressional leaders that yielded no immediate results.

Oklahoma Gov. Mary Fallin released a statement Friday, saying state agencies have prepared for cuts for months, though she doesn't think they will be immediately felt.

In total, the sequester means $1.2 trillion in government spending cuts over 10 years -- $85 million within the first year.

State leaders say Oklahoma could be hit hard by cuts, impacting military bases, education and Indian services.  Even local businesses that sell military supplies would be affected.

The deadline for Republicans and Democrats to reach an agreement on government spending is 11:59 p.m. ET.

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