Short term funding bill enacted

Congress passed and the President signed a short term Continuing Resolution (CR) funding the federal government until March 18. The CR contained $4 billion in cuts of programs that the Obama Administration had recommended for reduction or elimination in addition to the elimination of earmarks. The additional time provided by the two-week CR is needed for the difficult negotiations to complete the FY 2011 spending process. Vice President Biden is leading talks with the House and Senate leadership to find a compromise. The House Republican leadership is committed to securing deep spending cuts ($100 billion below President Obama’s FY 2011 Budget Request) in this current year. The Senate strategy is less clear as Democrats try to reach an agreement within the party about a balanced approach to cutting spending.

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