Senate Minority Leader Harry Reid (D-AZ) proposed a compromise with the Republican party that would fund the government for 30 days. The proposal would be a stop-gap measure as current government funding will stop on March 4th. Congress has not yet passed a budget for this year as the Republican Party has been reluctant to negotiate on spending cuts.
After proposing a widely maligned revised budget that would trim $61 billion of spending over 7 months, Speaker John Boehner and the Republican majority in the House have now brought a stop-gap measure to the table. The new measures would prevent a government shut down and trim $4 billion from the federal budget.
That is $2 billion a week in savings. House Republicans have not budged an inch on their plan to reduce the federal deficit by ending federal programs. The proposed reduction and elimination of government services would help fund the Bush tax cuts, which will cost the United States an estimated $4 trillion in revenue over the next 10 years.
To Harry Reid's credit, his proposal continues the $41 billion in cuts that the two parties agreed to back in December. However, it is clear that both parties have a long way to go before even a temporary stop-gap measure is agreed upon.
If House Republicans and Senate Democrats fail to compromise before March 4th, a shutdown will occur.