Budget Battle

A very expensive staring contest between President Obama and Republicans over widespread federal spending cuts, due to kick in on Friday.

FOX News Radio's Rich Johnson reports from Washington:

The two sides are fighting for two different solutions: The Democratic plan that would include both spending cuts and new revenue championed by many, including Senate Democratic Leader Harry Reid.

(Reid) "Until there's some agreement on revenue, I believe we should just go ahead with the sequester."

But House Speaker John Boehner says it has to be all spending cuts, like the two measures that House Republicans have already approved.

(Boehner) "We have moved the bill in the House twice. We should not have to move a third bill."

But the previous two bills Boehner refers to were in the last Congress and don't count in this new Congress.

In Washington, Rich Johnson, FOX News Radio.