OH, so Rep. Boehner was the winner in the budget standoff, right?
WASHINGTON — A new budget estimate released Wednesday shows that the
spending bill negotiated between President Barack Obama and House
Speaker John Boehner would produce less than 1 percent of the $38
billion in claimed savings by the end of this budget year.
The Congressional Budget Office estimate shows that compared with
current spending rates the spending bill due for a House vote Thursday
would pare just $352 million from the deficit through Sept. 30. About
$8 billion in cuts to domestic programs and foreign aid are offset by
nearly equal increases in defense spending.
The House began preliminary debate on the measure Wednesday with it
easily advancing over a procedural hurdle by a 241-179 vote. The
measure appears on track to pass the House and Senate this week before
a stopgap spending measure expires Friday at midnight despite
opposition from some of the GOP’s most ardent budget cutters.
The budget deficit is projected at $1.6 trillion this year.
Well, he's not winning and neither is the American public.
Comments