Around 12,000 Department of Defense employees in New York would immediately be furloughed if no deal is reached on the sequester by March 1st.

The automatic spending cuts that would take effect would mean the loss of $42 million in federal funding for primary and secondary education, along with $36 million in funding for the education of children with developmental problems.

The Obama administration says the state would lose millions of dollars more in grants to numerous programs if no deal is reached with Congress by the deadline Friday.