WKYT | Lexington, Kentucky | News

Budget cuts a mix of old and new, and some sleight-of-hand

WASHINGTON (AP) - The $38 billion in budget cuts agreed to by congressional leaders and the White House aren't all new.
As details of the agreement emerge, it turns out that some of the cuts are in programs that the president had targeted anyway.
The agreement also involves using money that was left over from previous years -- and some accounting tricks.
It allowed the White House to save some favorite programs, including Pell grants for college students, health research and "Race to the Top" aid for public schools.
The head of an influential House Republican panel says he'll oppose the budget deal. Jim Jordan of Ohio says while some of his GOP colleagues will support the compromise, he believes "voters are asking us to set our sights higher."
Obama, meanwhile, is expected to insert tax increases back into the budget debate when he outlines his new deficit cutting proposals tomorrow.


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