http://news.yahoo.com/huge-deficit-cutting-bill-sails-gop-house-020151481.html

"Yet a few hours after Obama spoke at the White House, supporters of the newly passed House measure breathed defiance.

"Let me be clear. This is the compromise. This is the best plan out there," said Rep. Jim Jordan, R-Ohio, head of a conservative group inside the House known as the Republican Study Committee.

The legislation, dubbed "Cut, Cap and Balance" by supporters and backed by tea party activists, would make an estimated $111 billion in immediate reductions and ensure that overall spending declined in the future in relation to the overall size of the economy.

It also would require both houses of Congress to approve a balanced budget amendment to the Constitution and send it to the states for ratification. The amendment itself would require a supermajority vote in both houses of Congress for any future tax raises.

With time dwindling, the day's events did little to suggest a harmonious end was imminent in a defining clash between the two political parties."