Cutting $1.5 trillion from the nation's budget over 10 years is proving no easy feat. In private, the Joint Select Committee on Deficit Reduction has been hammering out details of its coming bipartisan recommendations to little avail.

J.P. Morgan sees education, electronic equipment and aerospace and defense firms taking the brunt of the spending hit. According to their research, $280 billion in annual sales are at risk at publicly traded companies on the S&P 500.

If the Supercommittee is unable to come to a consensus before its November deadline, automatic cuts of $1.2 trillion will take effect. This trigger is acting as an impetus for the 12 leaders to come to some agreement.