Bloomberg reports that the rumored $33 billion in cuts being negotiated by House Speaker John Boehner (R-OH) and Senate Majority Leader Harry Reid (D-NV) is looking like the key number both sides are working towards. For perspective, that’s $28 billion less than the House of Representatives passed a few weeks ago, and $67 billion less than Republicans promised during last year’s mid-term elections.
When the $61 billion cut was passed, Tea Party-backed legislators accepted the reduction under the assumption that half a loaf is better than nothing at all. Now, the loaf is down to a third, and activists are having none of it.
Whatever sum gets approved, it’s a sure bet the Tea Party and the members of Congress friendly to it won’t forget the importance of starting the cut threshold even higher next time. At this rate, don’t be surprised if the 2012 battle cry is, “$500 Billion in Cuts or Fight!”
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