US President Barack Obama speaks during an event at the Decatur Community Recreation Center February 14, 2013 in Decatur, Georgia. Obama is traveling to Georgia to promote economic and educational initiatives he spoke about in this week's State of the Union. (BRENDAN SMIALOWSKI/AFP/Getty Images)
WASHINGTON (AP) - President Barack Obama says Congress can keep across-the-board cuts from taking effect with "just a little bit of compromise."
Speaking to the nation's governors, Obama says the impact of the budget cuts may not be felt immediately. But he says the uncertainty created by the cuts is already having an effect on the economy.
The president says Monday that the longer the cuts are in place, the deeper the impact will be on the economy.
Unless Congress acts, $85 billion in cuts will go into effect Friday.
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