$85 billion in automatic across-the-board spending cuts could happen if President Obama and Congress don't reach a deal by March 1. Watch CNN.com Live for continuing coverage on this story.
Today's programming highlights...
The Jodi Arias murder trial is in recess until Monday.
11:20 am ET - White House briefing - Spending cuts, immigration and gun control will likely dominate Press Secretary Jay Carney's briefing with the White House press corps.
1:30 pm ET - Trayvon Martin case hearing - Attorneys for George Zimmerman will ask a judge to require the attorney for Trayvon Martin's family to answer questions under oath. Zimmerman is not expected to attend the hearing.
2:15 pm ET - Danica Patrick talks Daytona 500 - Daytona 500 pole winner Danica Patrick will speak with reporters in Florida ahead of Sunday's race.
3:00 pm ET - Kerry meets with Japanese foreign minister - Secretary of State John Kerry and his Japanese counterpart meet with reporters following closed-door talks in Washington.
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