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IPFS News Link • Government Debt & Financing

House Republicans propose $30B in budget cuts


House Republicans want to slice more than $30 billion from agency budgets over the next several months, a move aimed at making good on their campaign pledge to return federal spending to 2008 levels.

The figure represents a sharp reduction from President Obama's most recent budget request, and Democrats have dismissed the proposal as draconian, arguing that cuts of that magnitude would harm critical government services.