President Threatens Veto Of Continuing Resolution

Bill contains about $100 billion more in cuts than president proposed
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The president has threatened to veto the
continuing resolution (HR 1) filled with Republican-proposed budget cuts.

While the Office of Management and Budget said
Tuesday in a policy statement that it is committed to cutting spending, it does
not support the "deep cuts" contained in the bill--about
$100 billion more than the president proposed--which the White House said
would "undermine our ability to out-educate, out-build, and out-innovate
the rest of the world."

A veto would deep-six the bill's zeroing out of
funding for the Corporation for Public Broadcasting, and would block a
Republican plan to block funding to implementation of the FCC's new network
neutrality rules. It would also restore $16.7 million in FCC salary and expense
cuts.

OMB said that if the bill "curtails the
drivers of long-term economic growth and job creation while continuing to
burden future generations with deficits," which means if those $100
billion in cuts remain, the President will veto the bill.

The current continuing resolution funding the
government runs out Mar. 4. The administration said that it would "work
with the Congress to refine the legislation to allow critical government
functions to operate without interruption for the remainder of the fiscal
year."

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