Updated: Wednesday, February 27 2013, 07:37 PM EST
WASHINGTON, D.C. (NEWSCHANNEL 3) - We're less than 48 hours away from major, across the board spending cuts taking effect.
The cuts total more than $1 trillion over ten years.
Observers say that just about everyone will feel the hit one way or another.
As Kristine Frazao explains, who is to blame depends on who you ask.