What happens if there is no budget deal?

With less than two weeks until a March 1 deadline, both President Barack Obama and Congressional leaders are speaking out on the ramifications of possible sequestration.

The sequester, which is another word for forced across-the-board spending cuts, will cut $85 billion from the country's budget, and with that will a number of layoffs for Americans.

While some federal assistance programs will be protected, a most federal agencies will be forced to make cuts. 

Chief National Correspondent John King has more in the above special report.

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New Mexico (change)

 
New Mexico is located in the southwestern region of the U.S. Inhabited by Native American populations for many centuries, New Mexico has also been part of Imperial Spain, part of Mexico, and a U.S. territory.
 
Offices & Officials

Governor: Susana Martinez
Lieutenant Governor: John Sanchez
Attorney General: Gary King
Secretary of State: Dianna J. Durán

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