Sequester Deadline Hits, No Deal [VIDEO]

Friday afternoon, President Obama spoke from the White House on the impact of sequestration. His remarks came after meeting with Congressional leaders.

FOX News Radio’s Mike Majchrowitz reports from the White House:

Not only does sequestration mean deep spending cuts for the Pentagon, but little flexibility in where the cuts come from.

Hagel: “Effective immediately Air Force flying hours will be cut back. This will have a major impact on training and readiness.”

Defense Chief Chuck Hagel says the Navy will gradually stand down at least four air wings starting next month. And the Army will curtail training for all units not deploying to Afghanistan. Hagel signaling confidence agreement will be reached before tremendous damage to defense programs; though consensus appears far off. A final effort between the President and Congressional leaders yielding no deal.

In Washington, Jared Halpern, FOX News Radio.