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Obama Urges Budget Compromise

Service : Economy
TEHRAN, April 3 (ICANA) – US President Barack Obama has urged both the Democrats and Republicans in Congress to reach a compromise on the federal budget before it expires.
Sunday, April 03, 2011 11:48:30 PM
Obama Urges Budget Compromise

On Saturday, President Obama separately called on Speaker of the House John Boehner and Senate Majority Leader Harry Reid to reach a resolution to the stalemate in Congress, the Los Angeles Times reported.

Congress continues to debate the 2011 Fiscal Year federal budget, set to expire on Friday. An estimated USD 33 billion in cuts is reportedly being negotiated between the two sides.

“The president said that he has instructed his team to continue to work hard over the weekend with the appropriators to help reach resolution on the composition of those cuts, and reiterated our opposition to cuts that will undermine our economic growth, job creation, and our ability to win the future," a statement issued by the White House on Saturday read.

Boehner's spokesman, Michael Steel, responded by saying, "The speaker reminded the president that there is no deal or agreement on a final number, and he will continue to push for the largest possible spending cuts.”

Failure to pass a budget by the Friday deadline could potentially cause a governmental shutdown. If a compromise is not reached, Congress will likely pass another short-term budget measure, as it was forced to do in March.

House Republicans had previously attempted to cut funding from the new healthcare law, Planned Parenthood and environmental protection laws such as regulations on greenhouse gas emissions, when the budget bill died in the Senate last month.

Obama has insisted on leaving areas like education, innovation and infrastructure off the spending cuts plan.

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