Tags: super | committee | cuts | debt

Supercommittee Convenes Public Hearing

Wednesday, 26 Oct 2011 11:38 AM

By Newsmax Wires

  Comment  |
   Contact  |
  Print  
|  A   A  
  Copy Shortlink

The Joint Select Committee on Deficit Reduction convened for its third public hearing on Wednesday morning to discuss discretionary spending, which makes up about 40 percent of the budget, a day after a closed-door meeting that highlighted the gap between Democrats and Republicans on entitlement and tax reform.

Congressional Budget Office Director Douglas Elmendorf  warned the committee that its decisions on discretionary spending could be voided by future Congresses, and highlighted the savings already netted from discretionary outlays.

“Lawmakers have already taken significant steps to constrain discretionary spending,” Elmendorf said, noting that total discretionary funding in 2011 was lower than it had been since 2002 because of cuts already made to the discretionary budget.

Democrats on the committee are seeking about half of the expected savings from revenue hikes and half in spending cuts, sources told Reuters. They also propose about $400 billion in Medicare cuts, half in benefit cuts, half in provider savings.


 

© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

More Detainees Set for Release From Guantanamo

Thursday, 27 Nov 2014 22:34 PM

More detainees are slowly and quietly being released from U.S. detention in Guantanamo Bay, Cuba, The Wall Street Journa . . .

Romney to GOP: Pass 'Permanent Clarification' of Immigration Laws

Thursday, 27 Nov 2014 21:45 PM

Mitt Romney is urging Republicans in the new Congress to come together, swallow hard, and pass a "permanent clarificat . . .

IRS Gave White House Thousands of Taxpayer Documents

Thursday, 27 Nov 2014 18:48 PM

The IRS improperly turned over thousands of confidential tax documents to the White House for review, according to infor . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved