Weekly Address: Sequester, Energy [VIDEO]

President Barack Obama says a little compromise is all Congress needs to turn off automatic, across-the-board budget cuts set to kick in a week from now.

In his weekly radio and Internet address, Obama says the so-called sequester will slow the economy and hurt the middle class. He says thousands of teachers will be laid off and air traffic controllers will be forced into unpaid leave, leading to airport delays. He says almost 800,000 defense workers will also face furloughs.

Obama says he wants a balanced plan to deal with the deficit that mixes spending cuts with more tax revenue.