Is a Federal Budget Deal on the Horizon?

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Today, as the Tea Party Patriots rally outside the Capitol Building, lawmakers might actually be close to a compromise on the federal budget. Members of the Senate Appropriations Committee met with their House counterparts last night to see if they could strike a deal to avoid a government shutdown. But the compromise in question would include $33 billion in cuts — $28 billion less than the budget Republicans passed in the House. How will the Tea Party react to a deal with Democrats? What are the implications for Speaker of the House John Boehner?

Takeaway Washington correspondent Todd Zwillich has the latest from the Capitol. We also hear from Congressman Steve King (R-IA) with his take on negotiating with Democrats — and what this means for the future of the Tea Party.

CLARIFICATION: Lisa Miller, Founder of Tea Party WDC, spoke via interview in this segment about opportunities to cut federal spending. Her comments reflect other opportunities to lower federal spending beyond the Fiscal 2011 continuing resolution. Some of those include the Fiscal 2012 budget and congressional negotiations on the debt limit.