According to a new White House report, billions will be shaved off important programs from military to Medicare if Congress fails to reach a deal by the end of the year. Automatic budget cuts would shave off $11 billion from Navy and Army operations, $2.3 billion from educational achievement and special-ed programs, and $5.6 billion in Medicare payments to hospitals. A 394-page report from the White House was given to Congress outlining the $100 billion in military and domestic spending cuts that will go into effect Jan. 2, 2013. The threat of dramatic cuts was supposed to push the two parties into a bipartisan deal on the economic deficit, but the Democrats and Republicans have yet to compromise.
LOOMING Isaac Brekken / Getty Images