{"id":288567,"date":"2011-03-03T22:53:15","date_gmt":"2011-03-03T22:53:15","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/03\/03\/budget-held-hostage-day-154\/"},"modified":"2011-03-03T22:53:15","modified_gmt":"2011-03-03T22:53:15","slug":"budget-held-hostage-day-154","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/03\/03\/budget-held-hostage-day-154\/","title":{"rendered":"BUDGET HELD HOSTAGE: DAY 154"},"content":{"rendered":"<p><div readability=\"81.7186311787\">    <!-- PURGE: \/2011\/03\/03\/news\/economy\/budget_shutdown\/biden_meeting.gi.top.jpg --><!-- KEEP --><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/03\/3e78a8a9ting.gi_.top_.jpg\" alt=\"Chief of Staff William Daley, budget director Jacob Lew and Vice President Joe Biden on Capitol Hill.\" width=\"475\" height=\"309\" border=\"0\" class=\"cnnstoryImageFull\" \/><span><b>Chief of Staff William Daley, budget director Jacob Lew and Vice President Joe Biden on Capitol Hill.<\/b><\/span><!-- \/PURGE: \/2011\/03\/03\/news\/economy\/budget_shutdown\/biden_meeting.gi.top.jpg --><span id=\"fb-recommend\"\/><br \/>\n<span>By Charles Riley, staff reporter<\/span><span>March 3, 2011: 5:59 PM ET<\/span><!--startclickprintexclude--><br clear=\"all\"\/><!--endclickprintexclude--><!-- CONTENT --><\/p>\n<p>NEW YORK (CNNMoney) &#8212; Thursday was the 154th day the federal government has operated without a budget.<\/p>\n<p>It&#8217;s also the day that President Obama took the reins and deployed top-ranking officials to talk the matter over with congressional leaders from both parties.<\/p>\n<p><!-- REAP --><!--startclickprintexclude--><!--endclickprintexclude--><!-- \/REAP --><\/p>\n<p>Obama sent Vice President Joe Biden, budget director Jacob Lew and Chief of Staff William Daley to Capitol Hill to hammer out a plan. <\/p>\n<p>Their deadline is March 18, when the latest short-term spending bill &#8212; the fifth this year &#8212; expires. That&#8217;s the game of chicken the government has been playing since the fiscal year started on Oct. 1.<\/p>\n<p><!-- REAP --><!--startclickprintexclude--><!--endclickprintexclude--><!-- \/REAP --><\/p>\n<p>Republicans have been saying they are reluctant to sit down and talk because they don&#8217;t know what Obama wants to do with the budget, or how deep he might be willing to cut. <\/p>\n<p>But on Thursday, administration officials signaled they were willing to move toward the Republican position.<\/p>\n<p>Director of the National Economic Council Gene Sperling told reporters just before the meeting on Capitol Hill that the administration was willing to put $6.5 billion more in cuts on the table.<\/p>\n<p>The White House already accepted a $4 billion reduction on Wednesday, when Obama signed a <a href=\"http:\/\/money.cnn.com\/2011\/03\/02\/news\/economy\/government_shutdown\/index.htm\">temporary spending bill<\/a> that will keep the government running until March 18.<\/p>\n<p>But House Republicans want to cut roughly ten times that much, and have already passed a spending bill that would do just that, by reducing spending authority by $61 billion.<\/p>\n<p>And we know that Obama isn&#8217;t thrilled with that starting position. He has already threatened to veto the bill.<\/p>\n<p>Sperling also said Obama would be willing to accept further cuts, on top of everything already put on the table, if common ground can be identified that won&#8217;t endanger the economy in the short-term, or U.S. competitiveness in the future.<\/p>\n<p><!-- REAP --><!--startclickprintexclude--><!--endclickprintexclude--><!-- \/REAP --><\/p>\n<p>The Biden dispatch is reminiscent of what Obama did in December, when he employed a similar eleventh-hour tactic that led to a compromise on extending Bush-era <a href=\"http:\/\/money.cnn.com\/2010\/12\/17\/pf\/taxes\/tax_cut_deal_janpaychecks\/index.htm\">tax cuts<\/a>. <\/p>\n<p>In that case, Obama locked Senate Minority Leader Mitch McConnell in a room with some of his top deputies. And they ended up producing a deal.<\/p>\n<p>One big difference: At the time, Obama had long telegraphed his position on the tax cuts for years.\u00a0<a href=\"http:\/\/money.cnn.com\/2011\/03\/03\/news\/economy\/budget_shutdown\/index.htm?section=money_topstories&#038;utm_source=feedburner&#038;utm_medium=feed&#038;utm_campaign=Feed%3A+rss%2Fmoney_topstories+%28Top+Stories%29#TOP\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/i.cdn.turner.com\/money\/images\/bug.gif\" alt=\"To top of page\" border=\"0\" width=\"7\" height=\"7\" \/><\/a><\/p>\n<p><!-- \/CONTENT --><!--startclickprintexclude--><!--startclickprintexclude--><br \/>\n<!--endclickprintexclude--><\/p>\n<p>First Published: March 3, 2011: 5:46 PM ET<\/p>\n<p><!--endclickprintexclude--><\/div>\n<\/p>\n<p><img decoding=\"async\" src=\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/03\/3e78a8a9ting.gi_.top_-150x150.jpg\" \/><\/p>\n<p>More here:<br \/>\n<a target=\"_blank\" href=\"http:\/\/rss.cnn.com\/~r\/rss\/money_topstories\/~3\/Iv11sbUCmfw\/index.htm\" title=\"BUDGET HELD HOSTAGE: DAY 154\" rel=\"noopener noreferrer\">BUDGET HELD HOSTAGE: DAY 154<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> Chief of Staff William Daley, budget director Jacob Lew and Vice President Joe Biden on Capitol Hill. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-288567","post","type-post","status-publish","format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - 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