Federal Budget

April 9, 2011 by staff 

Federal Budget, A last-minute agreement was reached a federal budget to avoid a government shutdown that threatened to take effect at midnight on Saturday.

Deep into Friday night of Labor, Senate Majority Harry Reid, D-Nev., and House Speaker Jim Boehner, R-OH, announced an agreement to keep the government running and can significantly reduce costs.

The initial announcement of the agreement on the budget did not include important details, but congressional leaders revealed that the agreement calls for spending cuts and .5 billion below the president’s proposed 2011 budget. The agreement also includes an agreement on the policy of the pilots.

“I did this last time for the drama,” said Reid, the agreement on the budget in a message from the Senate. “We did it because it was very hard to get to this point.”

As part of the program, Congress approved a short-term resolution to keep the government running through Thursday. This short-term measure will reduce the first and $ 2 million of total savings. Lawmakers then package the total commitment to send Barack Obama to President for signature.

Speaking from the Blue Room of the White House, President Obama praised the agreement, saying it “will allow our small businesses get the loans they need our families to obtain mortgages that were requested, and hundreds of thousands of Americans to appear in work and bring home their paychecks on time, including our brave men and women in uniform. ”

Congressional leaders had been struggling to reach an agreement that would prevent the government shutdown. He had spoken of an agreement reached late Thursday, but Friday the crisis seemed imminent.

As late as Friday afternoon, leaders from both parties were exchanging barbs with each other. Senator Reid characterized the Republicans stand on certain issues related to budget dispute as “ridiculous.” Meanwhile, Boehner said that any stop would be the fault of Democrats.

“There’s only one reason why we have no agreement at the moment and this issue is the expense,” he said earlier in the day. “When the White House and Senate Democrats when they get serious about cutting spending?”

But Friday night, the tone has changed, the leaders announced that they had reached an agreement. Reid thanked Boehner and Senate Republican leader Mitch McConnell, R-Ky., from the full Senate. For his part, McConnell reciprocated, offering thanks to “my friend the Majority Leader Boehner and the President for his outstanding work during these difficult negotiations.”

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