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Companies prepare for cuts as sequester nears

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WASHINGTON—As the countdown continues until the automatic spending cuts go into effect, we’re learning more about the impact of those budget cuts.

Officials say small airports could lose their overnight air traffic controllers.

Phil Ridenour, Hagerstown Regional Airport Director, said, “That’s a gigantic safety issue for us. If we have somebody that’s not paying attention to somebody coming in to land, they cross a runway in front of landing aircraft, you can just imagine what would happen.”

March Air Reserve Base has announced that it may have to cut maintenance and pilot training on top of a 20 percent pay cut for employees.

President Obama said, “Companies are preparing layoff notices. Families are preparing to cut back on expenses.”

Among the first to disappear will be heating assistance, food for new mothers and money for school construction.

Unemployment checks could take a 10 percent hit.

Currently, it seems that politicians are pointing fingers rather than negotiating.

Rep. Eric Cantor, House Majority Leader, said, “The president’s really gotta stop campaigning and come back to the table and work with us.”

Tuesday, President Obama is visiting a Virginia shipbuilder worried about jobs and spending.

Officials even fear the cuts could make the U.S. more vulnerable to terror attacks.

Janet Napolitano, Homeland Security Secretary, said, “We’re going to do everything we can to minimize that risk, but the sequester makes it awfully, awfully tough.”

Authorities say the Federal Reserve Chair Ben Bernanke will speak on the economic impact nationwide Tuesday.