Democrats and Republicans continue to trade barbs ahead of the looming sequestration deadline to avoid $85 billion in automatic spending cuts. Speaking to servicemembers in Virginia, President Obama said Republicans are refusing easy compromise in favor of protecting the wealthy.

President Obama: “There are too many Republicans in Congress right now who refuse to compromise even an inch when it comes to closing tax loopholes and special interest tax breaks. And that’s what’s holding things up right now. Keep in mind, nobody is asking them to raise income tax rates. All we’re asking is to consider closing tax loopholes and deductions that the speaker of the House, John Boehner, said he was willing to do just a few months ago.”

The spending cuts will kick in on Friday unless the two sides can reach a deal. Responding to Obama in Washington, House Speaker John Boehner said Democrats are to blame for refusing to take on government spending.

Rep. John Boehner: “The American people know if the president gets more money, they’re just going to spend it. And the fact is is that he’s gotten his tax hikes. It’s time to focus on the real problem here in Washington, and that is spending.”