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Oklahoma could lose billions without budget compromise

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OKLAHOMA CITY - Three days remain for a compromise to be made in Washington.

If one is not reached, Oklahoma stands to have about $10 billion sequestered.

Sen. David Holt said Oklahoma generates about $6 billion to $7 billion but receives another $10 billion from federal funds.

These cuts will directly affect Medicaid, education, public safety and health care.

Oklahoma City schools could lose $2 million just from the special needs program alone.

"It's like taking a hammer to a problem that maybe requires a scalpel but whatever we do hammer or scalpel; it's going to hurt and it has to start at some point," Holt said.

President Obama said he would rather close tax loopholes and deductions instead of letting the automatic sequester to go through.

He said this is a self-inflicted wound that doesn't have to happen and that it will also weaken military readiness.

Carl Dahms, Vice President of American Federation of Government Employees Local 916, said a host of Tinker civilian employees on average stand to have a decrease in their paychecks.

"For a lot of people this will average out to about a 20 percent pay decrease," Dahms said. "That's going to affect house payments, car payments, groceries and everything else. It's going to be devastating not only for the employees here but for the local economies."