CBO Figures Cast Doubt On Budget Compromise

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CBO figures cast doubt on budget compromiseAs lawmakers prepared to vote on the Federal budget for the remainder of fiscal year 2011, new data from the Congressional Budget Office (CBO) has raised some doubts regarding the bill's immediate impact on the national deficit.

According to an analysis by Politico.com, the proposed $38 billion cuts would reduce direct spending this year by approximately $352 million, compared to the FY2010 rates. This information may irk conservative lawmakers who have already argued that the compromise failed to meet the GOP's campaign pledge to cut $100 billion.

However, the CBO figures take into account an increase in Pentagon appropriations. If non-military spending is cast aside, the rest of the government's budget will be $42 billion less than the level when John Boehner (R-Ohio) became Speaker of the House.

The deal passed in the House Thursday afternoon and was supposed to go before the Senate later in the evening. If a deal was not reached by midnight, the government would shut down.

A total of 28 House Republicans voted against the stopgap bill on April 9 that kept the government funded for an extra week. Representative Tim Huelskamp (R-Kan.) voted against the continuing measure and said he planned to vote against the final package, claiming that the budget is built on "phantom savings," according to FOX News.

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