By Shelby Lin (CNN)-With political catch phrases like "fiscal cliff" and "debt ceiling" barely behind us, Americans have something new to worry about.
It's called "sequestration."
If Congress takes no action, across-the-board spending cuts will be imposed on March 1st.
Senate democrats on Thursday proposed a measure to once again delay the cuts.
"We can't cut our way to investing in education, research and development. We just have to get back to a balance, and I think the American people understand that."
"We're talking about 2.5% of what we spend this year, and this is just the first year of ten years of cuts, so you have to be realistic about this. Families all across the country, Candy, have had their budgets cut by larger than that."
The 85 billion dollars in cuts to federal agencies could lead to furloughs for as many as 2 million workers.
The Pentagon fears this could have a drastic effect on the military.
Many republicans say the sequester is coming.
"We're here because the President back in the last session of congress refused to cut spending in any place and therefore we wound up with the sequester."
Though there is still some uncertainty over this new deadline, Senator Charles Schumer, an influential New York Democrat, appears confident the sequester will be avoided.
"Their arguments are untenable and don't meet the favor of hardly anyone other than themselves, and the few whose special interests they are protecting."
Both sides mention "balanced solutions".
It seems finding that balance is a solution that so far has evaded lawmakers.
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