Here is a summary of the Democratic Senate Majority Leader,
Harry Reid's Plan and the Republican House Speaker, John
Boehner's Plan:
REID'S PLAN
- Provides $2.7 trillion in spending cuts over 10 years,
mostly from domestic programs and expected troop drawdowns
- Would boost the country's debt limit by $2.4 trillion by 2012.
BOEHNER'S PLAN
- Calls for deficit reduction of $1.2 trillion over 10 years.
- Would allow a short-term $1 trillion hike to the government's
borrowing limit which would last only a few months.
- A future $1.6 trillion rise in the debt limit would be
contingent on approval of another $1.8 trillion in cuts.
Sheila McKinney
