In an embarrassing development for John Boehner, the Republican Congress speaker, the Congressional Budget Office (CBO) ruled on Tuesday night that his bill would have only cut spending by $850bn (£517bn)over the next decade, not the $1.2tn he had aimed for. Republicans are now racing to rewrite the legislation, and have pushed back a congressional vote on the plan from Wednesday to Thursday at the earliest.
Although Boehner was already struggling to find support for his package, the delay increases the risk that Washington will fail to agree a deal to raise the debt ceiling before 2 August, when the federal government is expected to run out of money.
Just another reminder that Republican math does not work in the real world.
No comments:
Post a Comment