Update: Senate passes $40 billion in budget cuts (WTF??)

[UpInArms]

here's the latest headline (50/50 tie with Cheney breaking it?)

http://www.marketwatch.com/news/newsfinder/pulseone.asp?dateid=38707.4415197685-855193444&siteID=mktw&scid=0&doctype=806&

WASHINGTON (MarketWatch) -- The Senate Friday morning passed legislation to cut spending by $40 billion over the next five years. The Senate voted 50- 50 on the bill, but Vice President Dick Cheney broke the tie to pass the measure. For the first time in eight years, the spending measure cuts funding for several entitlement programs for the first time in eight years. Programs affected include Medicaid and Medicare, and funding for student loans. However, Senate Democrats were successful in striking some provisions from the budget bill. This requires that the measure be sent back to the House for another vote. The House is not expected to return to Washington until late January.

:argh:


http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2005-12-21T151726Z_01_N21191050_RTRIDST_0_CONGRESS-BUDGET-VOTE-URGENT.XML

WASHINGTON, Dec 21 (Reuters) - The U.S. Senate on Wednesday failed to overcome Democrats' objections to a $39.7 billion spending-cut bill, forcing changes to the measure that would also have to be approved by the U.S. House of Representatives.

By a vote of 52-48, the Senate failed to set aside objections by Sen. Kent Conrad, a North Dakota Democrat, over some health care provisions in the bill. Republicans needed to get a minimum of 60 votes to beat the Democratic move. The legislation was passed by the House on Monday.

The move added a new wrinkle to Republicans' year-long efforts to pass a budget bill that would cut social welfare, such as Medicare and Medicaid, student loans and other programs.

...short blurb...

updating:

http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2005-12-21T152531Z_01_N21168678_RTRIDST_0_CONGRESS-BUDGET-VOTE-UPDATE-1.XML

excerpt:

With Vice President Dick Cheney on hand in case his vote was needed to break a tie, lawmakers had been braced for a narrow vote on the nearly $40 billion spending bill

Before voting, Democrats criticized the measure's cuts to programs for the poor.

"It's an attack on the middle class and those in greatest need on behalf of lobbyists for the powerful," said Senate Minority Leader Harry Reid, a Nevada Democrat.

...more at link...