GOP Set to Follow Through on Deficit Reduction

Tuesday, 02 Nov 2010 04:17 PM

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The strong victory that House Republicans are expected to register in elections Tuesday will give them a chance to act on their plans to cut the bulging budget deficit. And there’s always the chance that an impasse between Congress and President Barack Obama could lead House, Republicans, budget, deficit, government, shutdownto a government shutdown, Politico reports.

When the new Congress convenes in January, Republicans and Democrats will consider a routine Treasury request to increase the amount the federal government can borrow, formally known as the debt limit.

Obama must convince Congress to lift the limit, or risk a government default on its debt. Republicans, who are serious about cutting the deficit, won’t go along with the president unless he’ll promise to reduce spending. That makes a shutdown possible.

“It would be frustrating to many, many people and it’s not a great thing.” Utah Republican Senate nominee Mike Lee tells NPR. “At the same time, it’s not something that we can rule out.”

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