Government Shutdown over Federal Budget for 2011 May Be Hours Away

Unless the parties can come to an agreement, the Federal Government of the United States will be shut down in about nine and a half hours. The last time this happened was in 1995.

On Wednesday, after a press briefing by President Obama, the two sides worked late into the night and until a after 2AM Thurdsay morning trying to come to agreement on a budget for the coming year. So far their efforts have come up short.

While both sides are looking for cuts in the budget, there have been vast differences of opinion on policy and where the custs should take place. So far the democrats have agreed to cut about $34 billion in spending and in exchange for this, the republicans have agreed to restructure the cuts so that more comes from the Pentagon spending and less from discrectionary programs.