Congress Proposes Deeper Budget Cuts Than President

The House Budget Committee released its budget markup and followed in fiscal suit to make a dent in the growing deficit. House Republicans unveiled a $2.6 trillion plan that closely follows the President's proposed cuts.

Although farm program cuts are still a part of the package, it is at a smaller level. Programs under the jurisdiction of the Agriculture Committee would get a slight reprieve from the Bush budget, with a total of $5.3 billion in required savings, down from about $7.5 billion.

The proposed budget cuts the deficit in half by 2009 — both monetary terms, and as percentage of GDP.