First Word: Sounding the sequester alarm

On Friday, the White House stepped up its warning over the automatic spending cuts set to take effect on March 1. White House press secretary Jay Carney said  if the GOP insists on “large and arbitrary” cuts to reduce the deficit only, the middle class will pay the price. The issue will likely resurface again during next week’s State of The Union Address.

Here’s a look at stories shaping tonight’s Last Word rundown.

• Senate Democrats struggle to craft plan for sequester replacement

• Krugman on corporate hoarding and the slow recovery

• Gun-sale background checks deal sought by bipartisan group of senators

• Progressive Change Campaign Committee expands anti-Mitch McConnell advertising

• Dick Morris defends his predictions and vows to moderate the GOP

• Poll: Hillary Clinton top of her field in popularity

• ‘Lincoln’ screenwriter fires back at Conn. congressman