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Not sure if something new came out this morning, but as of yesterday, I thought the Dem's bill cut 1.8-2.2 trillion while the Rep's would cut 800 billion - 1.2 trillion.
One thing to remember is Obama does not create the budget, he can only push a direction, so he's only pushing to merge them, while Congress still has to agree. If that's what it takes to get the deal done, and they both do it, that is a bi-partisan compromise, based around the current situation, it's the only compromise, assuming it goes through.
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