Biden: 'Well Beyond' $1T In Deficit Cuts

Well, that’s at least one person who’s optimistic about the budget talks. Vice-President Biden said Tuesday he is “confident” the talks between the White House and major Congressional leaders will produce “well beyond” $1 trillion in cuts. Coming out of the group’s seventh negotiating session, Biden said he hopes the group will be able to reach an agreement ahead of the July 4 recess date, leaving plenty of time to draft and pass the budget cuts ahead of August 2, the day the government is set to run out of money and default on its loans.