—Obama proposes to cut spending by $1.2 trillion over a decade, though that includes $290 billion in interest savings not counted under GOP math. He proposes cutting $400 billion from health care programs and $200 billion in cuts and fees from other so-called mandatory spending. He proposes $200 billion in cuts from agency budgets set by Congress each year, half from the Pentagon and half from non-defense. He claims $130 billion from a lower inflation adjustment that reduces Social Security and federal retirement benefits.
—Boehner's original offer promised $1.4 trillion in spending cuts over a decade, including $600 billion from health care programs, $300 billion from non-health mandatory programs, $200 billion from the lower inflation adjustment and $300 billion from agency budgets. Last week, he winnowed the savings to as low as $1 trillion, with about half to come from health care programs.
—Plan B includes no spending cuts.
—Obama would raise the government's borrowing cap enough to last for two years.
—Boehner's offer would raise the debt limit enough to last 1 year.
—Plan B would not increase the debt limit.