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February 21st, 2013
05:51 PM ET

Budget cuts: "Plan B" via your gas tank

By Lisa Desjardins, CNN

Follow on Twitter: @LisaDCNN

Editor's Note: Listen to the full story in our player above, and join the conversation in our comments section below.

(CNN) – March first is approaching like a 18-wheel truck with no brakes. Both political parties have proposed plans to avoid forced budget cuts, or the sequester, yet neither seems to have much of a chance of surviving both chambers by the impending deadline.

Democrats would increase end some farm subsidies and increase some taxes.

[:26] Rep. Chris Hollen, D-MD says, “we shouldn't be giving tax breaks to big oil companies and we believe that we should apply the Buffet Rule to people making over two million dollars a year.”

For many Republicans, that’s a non-starter.

[:44] Sen. John McCain, R-AZ says, “we should be able to sit down and resolve this without again asking the American people to have their taxes increased.”

McCain and several others instead propose reducing the number of federal workers slowly, by attrition, over ten years. Yet, that idea similarly is in legislative limbo.

There is, however, a plan B. It hasn’t gotten much time at the mics but it is buzzing throughout the halls of the Capitol. The idea? A sort of de facto fall-back position. Let the March 1 cuts technically hit, then try to erase them with the new spending plan that should be passed by March 27.

Listen to our story to understand how Congress could rework the budget cuts during the month of March, and why your gas tank is an apt metaphor.

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