Reid, Boehner Build Support for Rival Plans

House Speaker John Boehner’s reworked deficit-cutting plan was gaining support among Republicans, while Senate Majority Leader Harry Reid said his competing proposal to avert a potential U.S. default is the only “true compromise.”

Less than a week from an Aug. 2 deadline to raise the $14.3 trillion debt limit, Congress’s budget scorekeeper said both measures fall short of their savings goals, prompting leaders to rework their proposals.

“There’s only one bill in Congress that is a true compromise,” Reid told reporters today. “We’re running out of time.” He said his plan can be revised to meet its savings target and Boehner’s plan has no chance of passing the Senate as it stands now.

Read Full Article from Bloomberg

- Posted: 2011-07-27 12:57:55

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