–House Speaker Says Key Leaders Are Still ‘Talking’ On FY’11 Budget
–‘It’s Time’ To Reach FY’11 Agreement
–‘Going To Fight For All The Spending Cuts We Can Get’
–Senate Republicans To Introduce Balanced Budget Amend Thursday P.M.

By John Shaw

WASHINGTON (MNI) – House Speaker John Boehner Thursday said talks
continue on the final 2011 fiscal year spending bill, adding that
negotiations are focused on both the final spending cut number and the
details of the final package.

At a briefing, Boehner disagreed with the more optimistic
assessment of Senate Majority Leader Harry Reid earlier in the day —
who said a broad agreement is at hand.

But Boehner’s disagreement was stated mildly and with minimal
contention.

“We are talking,” Boehner said of the negotiations on the FY’11
budget.

“It’s time … to try to get an agreement,” he said.

Boehner said there will not be a final agreement until
congressional leaders and the White House are in accord on both the
overall spending cuts and the details of those cuts.

The Speaker said House Republicans are still trying to achieve the
largest possible spending cuts, but he did so without referring to
specific numbers or sharp threats.

“We are going to fight for all the spending cuts we can,” Boehner
said.

Earlier in the day, Reid said Congress and the White House have
reached an agreement on the level of FY’11 spending cuts, but still need
to resolve important details.

“We’ve agreed on a number,” Reid said in remarks on the Senate
floor. “Now we have to figure out how to get to that number,” he added.

The White House and Congress appear to be focused on a final FY’11
budget that cuts spending by $73 billion below what President Obama
first proposed and $33 billion from current spending levels.

This means the parties are working toward a FY’11 discretionary
spending cap of $1.055 trillion.

The 2011 fiscal year began on Oct. 1 and the government has run on
six short-term funding bills.

Congress’s most recent temporary spending bill for the 2011 fiscal
year will keep the federal government funded until April 8.

Meanwhile, Senate Republican leaders will unveil a balanced budget
constitutional amendment Thursday that they want the Senate to consider
when it takes up debt limit legislation.

** Market News International Washington Bureau: (202) 371-2121 **

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