House Republicans Reveal New Budget With $26 Billion More In Cuts

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House Republicans reveal new budget with $26 billion more in cutsThe House Appropriations Committee has introduced a new proposal that would cut $100 billion from President Barack Obama's 2011 budget request, meeting the original pledge that was made last year by conservative Republicans.

The GOP-led budget committee unveiled its original proposal last week that, if approved, would have cut $74 billion from Obama's plan. However, fiscally conservative lawmakers urged the panel to make more cuts to honor the $100 billion that was promised in the GOP's Pledge to America.

According to The Associated Press, the savings are much less when measured against current spending because the government has been operating on last year's levels since Oct. 1. However, the $100 billion in cuts are accounted for when compared to Obama's proposal, which has not been enacted. The goal of most Republicans is to roll back spending to 2008 levels.

"Our intent is to make deep but manageable cuts in nearly every area of government, leaving no stone unturned and allowing no agency or program to be held sacred," said Appropriations Committee Chairman Hal Rogers (R-Ky.), quoted by The Washington Post.

Stop-gap spending is scheduled to expire on March 4, which means that Congress must agree on a budget in the next several weeks to avoid a government shutdown. Senator Charles Schumer (D-N.Y.) accused the GOP of causing gridlock by "blindly swiping a meat ax to the budget," according to the news provider.

Meanwhile, the conservative grassroots group Heritage Action has claimed that the most recent proposal is inadequate. The organization said that the GOP's budget plan is $16 billion short in cuts because only $84 billion in non-security spending cuts have been proposed. 

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