The collapse of a government-wide spending package in the final days of this Congressional session sets up a politically charged fiscal showdown early next year, testing the determination of Republicans about to take over the House with promises to slash an array of domestic programs....
Republicans say that timeline will allow them to quickly put their stamp on the budget for the current fiscal year, and Mr. Boehner and his leadership team have vowed to eliminate about $100 billion in spending out of about $400 billion in domestic programs. ...
The 2011 spending fight could be complicated by the need to raise the federal debt limit to avoid a federal default — a vote that many new Republican lawmakers have indicated they would not make.
Republicans say the debt limit vote could also present an opportunity, allowing them to tie a package of spending reductions to the debt increase to make it more palatable.
Dec 18, 2010
What Will It Be Like If Social Security's Operating Budget Is Cut By 25%?
From the New York Times: