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Obama to meet congressional leaders Friday

President Obama will meet with congressional leaders on Friday, the day that $85 billion in automatic budget cuts are set to take effect.

Senate Minority Leader Mitch McConnell, R-Ky., confirmed the meeting in a statement Wednesday, calling Friday’s scheduled session “an opportunity for us to visit with the President about how we can all keep our commitment to reduce Washington spending.”

Obama is slated to meet with McConnell and House Speaker John Boehner, R-Ohio, as well as the top two Democrats in Congress, Senate Majority Leader Harry Reid, D-Nev., and House Minority Leader Nancy Pelosi, D-Calif.

Friday, March 1, is the first day of “the sequester,” the $85 billion in automatic domestic and defense cuts that has triggered the latest budget standoff between the White House and congressional Republicans.