Biden Plan Only Cuts $2 Billion From Discretionary Spending Next Year

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That's billion with a 'b'.

5:11 PM, Jul 12, 2011 • By JOHN MCCORMACK

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In the nearly two-hour-long White House meeting Monday afternoon during which leaders reviewed savings found last month by a group led by Vice President Joseph Biden, McConnell asked only one question, according to a Republican source familiar with the talks.

“How much does the Biden plan actually cut from next year’s discretionary spending budget?” the Kentucky Republican asked the room.

Obama’s Office of Management and Budget Director Jacob Lew told him, “$2 billion.”

A second source close to the original Biden group confirmed this number.

Two billion dollars is slightly more than 0.1 percent of next year's deficit.

Via Jim Pethokoukis.