Analysts: Senate Democratic Plan Would Save $2.2 Trillion

By: AP
By: AP

WASHINGTON (AP) - Congressional budget analysts say a Senate
Democratic plan to cut spending and increase the nation's borrowing
authority would save $2.2 trillion over 10 years.

The Congressional Budget Office released its estimate Wednesday
morning. The analysis also said the plan by Senate Majority Leader
Harry Reid would save $840 billion in non-war spending by
government agencies.

The analysis said it would reduce the government's interest
payments by $375 billion over a decade. The bulk of the reductions
come from projected savings of $1 trillion from the winding down of
the wars in Iraq and Afghanistan.

The CBO analysis of the House Republican plan showed fewer
savings than Speaker John Boehner promised, forcing him to revise
his proposal. House leaders had to postpone a vote on the measure
scheduled for Wednesday.

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