The big budget news (always an eyeball grabber) is that Senate Budget Committee chairman Kent Conrad (D-ND) and his House counterpart John Spratt (D-SC) are taking machetes to Obama's proposal, released last month. The Washington Post reports that the two are poised to release budget blueprints that "cut hundreds of billions of dollars from Obama's spending request over the next five years."
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But is there really any there, there? Short answer: not really. The blueprints, called resolutions, aren't binding on the work of congressional committees, which are still plowing ahead with their legislative agendas. And at the same time, many of Conrad's changes are geared more toward hiding spending than toward specific cuts. For instance, "Conrad...pressed some Bush-era budget maneuvers eliminated by Obama back into service: Instead of a 10-year budget that shows deficits steadily accumulating, for example, Conrad is proposing a five-year spending plan."