Posted by: Rick | Thursday, February 4, 2010

BREAKING: Obama, GOP Reach Historic Budget Compromise

REUTERS — Following a fifteen minute meeting with Senate Minority Leader Mitch McConnell (R-KY) and House Minority Leader John Boehner (R-OH) President Barack Obama has released a statement announcing that the federal budget will be balanced by the end of fiscal year 2012.

“Republicans have asked me to meet them halfway, and I have responded to their requests,” reads the statement from the President. 

“In a spirit of bipartisan compromise, I have directed Peter Orszag, my Budget Director, to accept a list of programs chosen by my Republican colleagues that we will pay for through emergency supplementals.  As a result of this bold — dare I say audacious — action, the federal budget might very well be in surplus by the end of my first term.”

McConnell hailed the agreement.

“President George W. Bush was faced with two wars and innumerable tax cuts on his watch,” said the Minority Leader.  “By stepping up to the plate and keeping lots of expenses off budget, he was able to steer us through the post 9-11 period without unduly upsetting people about arcane fiscal matters.  I applaud President Obama for choosing what works over what’s responsible.”

Rep. Boehner, still recovering from treatment for third-degree sunburn, had no comment.

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