Federal Budget Battle Continues
WASHINGTON D.C.(IRN)-The clock is ticking on another temporary federal budget. Congressional leaders were summoned to the White House today for talks aimed at preventing a government shutdown. House Speaker John Boehner says congressional leaders and President Barack Obama did not reach a budget agreement at that meeting today.
The issues are complex, but U.S. Sen. Mark Kirk(R-Ill.) describes it simply as Democrats proposing $33 billion in budget cuts, while Republicans are demanding $60 billion. He says a compromise can be reached at a number greater than $40 billion.
But Democrats including Sen. Dick Durbin(D-Ill.), the No. 2 man in the Senate, are critical of efforts to take all the cuts out of discretionary, non-military spending.
The latest interim funding measure expires Friday. Kirk says he expects haggling to continue into the 11th hour, and perhaps beyond, into the weekend. As the deadline approaches, there is little indication an agreement is near.
Unclear is whether party leaders can reach a deal in a few days that rank-and-file lawmakers will accept.
Copyright IRN and The Wall Street Journal