In late March, a few days after the House approved its budget
resolution, the Senate approved a budget resolution for the first
time in four years. The vast differences between the dueling
proposals reflect broad disagreements between Democrats and
Republicans regarding how to address the federal government's
persistent budget deficits.
The Senate-approved budget resolution, authored by Senate Budget
Committee Chairwoman Patty Murray (D-Wash.), would modestly reduce
the deficit from current projected levels during the next
According to projections, if the resolution is implemented, the
annual deficit would decrease from the current $1 trillion to $566
billion in 2023. Moreover, the total federal debt held by the
public would be about 70 percent of U.S. gross domestic product
(GDP) compared with the...
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