Federal budget countdown

If Republicans and Democrats in Congress fail to reach a compromise on spending cuts by Friday of next week the Federal government will shut down? What are the chances of that happening? KUSI's Steve Bosh reports on the latest details.

The chances are probably a lot less then what your hearing on the talk shows and from members of both parties as they spend this week in their home districts, one week before the March 4th deadline to act.

House Republicans laid down a marker last Friday when they passed a budget for this year with 61-billion dollars in cuts.

Over the weekend the Democrats denounced the cuts as draconian, and warned of a possible government shutdown.

Meantime, some Tea Party groups have called on lawmakers to force a shutdown but the Republican leadership has vowed not to go that far.

Senate Democratic leader Harry Reid said Democrats will agree to spending cuts but not the levels the Republicans are demanding.

So the intense political struggle over spending continues, and the two parties are blaming each other should a compromise not be reached by the March 4th deadline.

Republicans nearly imploded when they forced a shutdown during the Clinton years but they won the House last November by pushing for spending cuts.

Local Congressman Darrell Issa issued a statement saying there will be a compromise. He said, “we respect the president's initiatives, and the reality of how much money the American people are willing to be taxed for our runaway spending.”

Democratic Representative Susan Davis says, “the president's budget protects the middle class, creates jobs and protects the budding economic recovery.”

The Congress is not in session this week. But we will be looking for a compromise some time next week to prevent the government from shutting down next month.

Categories: KUSI