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Jul 27, 2011

CBO: Reid debt-reduction proposal would save more than Boehner plan: The Washington | Business News

The Congressional Budget Office said Wednesday that Senate Majority Leader Harry M. Reid’s plan to reduce the nation’s debt would fall short of its $2.7 trillion target, but save significantly more over the next decade than a bill introduced by House Speaker John A. Boehner.

The announcement came a day after the CBO dealt Boehner’s measure a potentially devastating setback, saying that spending cuts included in the House bill would save only about $850 billion over the next decade — far less than the $1.2 trillion advertised.

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