Oklahoma Mary Fallin speaks out on sequester and budget cuts, says state is prepared

Oklahoma Gov. Mary Fallin released a statement Friday regarding looming budget cuts and the sequester.

Fallin says state agencies have spent months preparing for cuts should Republicans and Democrats fail to reach an agreement on government spending.

“While it is still unclear how many dollars each state agency will lose, we do not expect an immediate loss in state services," said Fallin. "Months ago, I asked my cabinet secretaries and state agency directors to plan ahead for sequestration. We believe the state is well-prepared."

Fallin says the sequester threat is destroying jobs and creating an uncertain economy.

"Furthermore, the large and seemingly haphazard cuts to military spending reduce the effectiveness of our armed services and hurt the economies of states with large military presences, such as Oklahoma."

"In Oklahoma, we faced a budget shortfall of over $500 million in 2011 – nearly ten percent of our total budget ... We balanced our budget. There is no reason the federal government cannot do the same," said Fallin.

The deadline for sequestration is 11:59 p.m. ET. A meeting Friday between President Obama and congressional leaders is not expected to result in a deal and the president is likely to issue an order that will slash federal spending $85 million for the rest of the fiscal year and nearly $1.2 trillion over 10 years.