President Barack Obama plans to give back 5 percent of his own pay in a gesture of solidarity with government  workers who must take unpaid leave as a result of deep spending cuts that went into effect last month. The president's self-imposed pay cut would be effective from March 1st when the spending cuts began. Defense Secretary Chuck Hagel will also give back 14 days  worth of pay to the government which is about $ 10,750. The president's  five percent reduction comes  to about $20,000. "The President has decided that to share in the sacrifice being made by public servants across the federal government that are affected by the sequester,he will contribute a portion of his salary back to the Treasury" says  White House Spokesman Jay Carney.