An official congressional analysis says a budget plan by House Speaker John Boehner (BAY'-nur) would produce less savings than originally promised.
The Congressional Budget Office analysis says the plan would generate less than $1 trillion in spending cuts over the coming decade. Boehner promised $1.2 trillion in cuts when he revealed the plan Monday.
The CBO analysis is a setback for the measure, which promises the savings to balance out a $1 trillion increase in the nation's borrowing authority in hopes of avoiding a first-ever government default.
The measure would generate $840 billion in savings over the coming decade by capping the day-to-day budgets of Cabinet agencies. Over $100 billion more would come from savings on interest payments.