$73 Billion In Cuts On The Table As Budget Talks Move Forward

The White House and Congressional leaders may be close to striking a deal on spending for the remainder of the fiscal year.

Vice President Joe Biden told reporters Wednesday evening that both parties have arrived at $73 billion as an acceptable level of cuts, but negotiations on where the funds will come from will continue.

“Democrats are in full agreement on what we don’t want to do in that number,” Biden said. “We don’t want to eviscerate the ability of the economy to grow, so we’re going to have a little debate.” 

Biden noted, however, that it could be too soon for optimism.

“There’s no deal until there’s a whole deal,” he said.

An agreement would sidestep a possible government shutdown. Currently, the government is operating under 2010 levels, albeit with $6 billion in cuts. Spending is scheduled to run out on April 8th. 

Republicans have previously been pushing for $100 billion in cuts.