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Congress Agrees On $4 Billion Cuts, Puts Off Shutdown For Two Weeks

Money_stacksA stopgap measure that will cut $4 billion in federal spending and put a possible government shutdown off for two more weeks was approved by the U.S. Senate Wednesday morning with a vote of 91-9 and signed by the President Wednesday afternoon. The measure will keep the government funded (less the $4 billion) and in operation through March 18.

President Obama has indicated that Vice President Joe Biden will facilitate a meeting with leaders from both parties in an attempt to formulate a plan that will allow for the government to operate through the end of the fiscal year, which is September 30.


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The measure passed is the third short term solution to the budget impasse.

newBuckOn Tuesday, Congressman Howard P. “Buck” McKeon commented on the House passage of the resolution, which passed with a 335-91 vote.

“The short-term continuing resolution that passed the House stays true to Republican promises to cut out-of-control spending in Washington and gives Senator Harry Reid an additional two weeks to consider H.R. 1, legislation passed by the House ten days ago to reduce spending while also providing necessary funding for the government through the fiscal yearend of September 30th.

“This week’s interim budget measure cuts $4 billion of spending on earmarks and other programs and aligns with the original spending bill that the House sent the Senate over a week ago to cut $61 billion in spending based on 2010 spending levels, making it the largest spending cut made by Congress since World War II.

“Our country cannot continue on the current upward rate of taxing and spending.  Economists agree that making significant cuts to a bloated and overgrown bureaucratic system is the best way to boost the economy and foster an environment for investment, small business confidence, and stable job creation.  Making cuts to a fast-feeding government hand may seem painful to some, but we must understand as a collective citizenry that we cannot continue to spend money we do not have.  Let’s treat our government as we treat our own personal household budget.  We must rein in the spending, cut up the proverbial credit cards, and get our fiscal house in order.”

 

Congress Agrees On $4 Billion Cuts, Puts Off Shutdown For Two Weeks

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