Dems Moving Closer To GOP On Spending

UPDATE (12:00 pm): In a scathing statement released Monday afternoon, Senate Majority Leader Harry Reid (D-Nev.) accused Tea Party Republicans of standing in the way of a deal being reached between House and Senate leaders.

Here’s Reid’s full statement:

“I am extremely disappointed that after weeks of productive negotiations with Speaker Boehner, Tea Party Republicans are scrapping all the progress we have made and threatening to shut down the government if they do not get all of their extreme demands. The division between the Tea Party and mainstream Republicans is preventing us from reaching a responsible solution on a long-term budget that will make smart cuts while protecting American jobs, and prevented negotiations from taking place over the weekend even as the clock ticks toward a government shutdown. Apparently these extremists would rather shut down the government and risk sending our economy back into a recession than work with Democrats or even their own leadership to find a responsible compromise. For the sake of our economy, it’s time for mainstream Republicans to stand up to the Tea Party and rejoin Democrats at the table to negotiate a responsible solution that cuts spending while protecting jobs.”

WASHINGTON — The Wall Street Journal reports this morning that the White House and congressional Democrats are crafting a budget plan that would shave an additional $20 billion off this year’s budget.

If the plan is enacted, Congress will have reduced spending for the current fiscal year by a total of $30 billion. However, it is likely that conservative “Tea Party” lawmakers in the House will prevent Republican leaders from accepting the deal.

In February, the House passed a 2011 budget that cut discretionary spending levels by $61 billion. That plan failed in the Senate, where Democrats, who control the majority, prefer only modest cuts.

Congress has less than two weeks to work out a deal on the budget, or else risk the possibility of creating a government shutdown. The current continuing resolution funding the government expires on April 8.

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