Wednesday, March 30, 2011
Budget negotiators agree on spending cut target, Biden says
Joe Biden told reporters that Congress had made a decision. They decided to reduce federal spending by $73 billion this year. By his math, Congress had already cut the budget by $50 billion. That meant Congress needed to come up with another $23 billion in cuts. At this point, Congress hadn’t made any decisions on what they needed to do to reach that $23 billion target. They merely decided that they needed to find another $23 billion in budget cuts.