CBO Says Revised Boehner Plan Cuts More Than $900 Billion

By
NEW YORK, NY - MAY 09: House Speaker John A. Boehner (R-Ohio) addresses the Economic Club of New York on May 9, 2011 in New York City. Boehner, is demanding that President Obama and Senate Democrats agree to spending cuts of $2 trillion in exchange for lifting the limit on federal borrowing to finance the government’s deficits. (Photo by Spencer Platt/Getty Images) *** Local Caption *** John Boehner; Photo: Spencer Platt

The Congressional Budget Office has scored the revised version of John Boehner's debt-limit plan, and the news is good for the beleaguered House speaker. The new bill has increased cuts from $850 billion to $917 billion while the $900 billion debt-ceiling increase remains the same. That means this version of the bill actually meets the GOP promise to have budget cuts exceed the amount of the debt-ceiling increase. The new version of the bill also front-loads budget cuts, increasing the 2012 cuts from the $1 billion in the original to $22 billion. The House will vote on the bill tomorrow and likely send it to the Senate, where Democrats plan to use it for toilet paper. [Speaker.gov]