President Barack Obama says a little compromise is all Congress needs to turn off automatic, across-the-board budget cuts set to kick in a week from now.

In his weekly radio and Internet address, Obama says the so-called sequester will slow the economy and hurt the middle class. He says thousands of teachers will be laid off and air traffic controllers will be forced into unpaid leave, leading to airport delays. He says almost 800,000 defense workers will also face furloughs.

Obama says he wants a balanced plan to deal with the deficit that mixes spending cuts with more tax revenue.

In the Republican address, Sen. John Hoeven of North Dakota says Obama should approve the Keystone XL oil pipeline as a way to create jobs and grow the economy.

"Mr. President, it takes more than a sound bite to get the economy going, but in this case, all it will take is your signature," said Hoeven in the GOP address.  Hoeven says the Keystone pipeline would create thousands of jobs, control the cost of fuel and reduce the country's dependence on oil from the Middle East.