Saturday, April 2, 2011

Signs Of Hope In Face Of Possible U.S Govt. Shutdown

Washington (CNN) -- With a deadline looming at the end of next week, leaders in both parties sent hopeful signals Friday that they can pass spending legislation to avert a U.S. government shutdown.

"We know that both sides are close. We know that a compromise is within reach," said President Barack Obama.

"We are on the doorstep of a deal," said Sen. Chuck Schumer, the third-ranking Senate Democrat.

"I am not preparing for a government shutdown," House Speaker John Boehner told reporters.

"Let's all be honest, if you end up shutting the government down, it will end up costing more than you save because you interrupt contracts, there are a lot of problems with the idea of shutting the government down. It's is not the goal, the goal is to cut spending," said Boehner.

Still, exactly how Democrats and Republicans will decide on which government programs to cut remains to be seen.

The current funding measure keeping the government running expires on April 8. The legislation under consideration would fund the government for the rest of the fiscal year.

While negotiators agreed tentatively earlier this week on a compromise to slash $33 billion in federal spending, there are still big differences over where in the budget to cut.

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