Washington, DC - President Obama will meet with congressional leaders Friday at the White House to discuss a way to avoid the fallout of deep spending cuts after they have technically begun, a top congressional aide familiar with the matter said Wednesday.

Weeks of finger-pointing on both sides have not led to an agreement to avoid the cuts, known as the sequester. The meeting will be the first between Obama and congressional leaders on the issue.

House Speaker John A. Boehner (R-Ohio), Senate Majority Leader Harry M. Reid (D-Nev.), House Minority Leader Nancy Pelosi (D-Calif.) and Senate Minority Leader Mitch McConnell (R-Ky.) are expected to attend.

Boehner spokesman Michael Steel confirmed the meeting and noted that because of its scheduled date, “at this point, the Obama administration isn’t even pretending to try to stop the sequester.”

Obama has said the $85 billion in cuts in domestic and defense spending would have a devastating impact on the government and harm the economy. Republican leaders agree that an alternative to the sequester is necessary.

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