Your trendy government acronym of the day: CHIMPS, as in "changes in mandatory program spending." The wonk-speak emerged today on the Sunday talk shows as a way to avoid a government shutdown, reports the Wall Street Journal. Charles Schumer said Democrats have come up with $10 billion worth of CHIMPS—cuts in things such as agricultural subsidies or certain banking and justice programs that fall under the umbrella of "mandatory government spending."
Those cuts can help negotiators supplement cuts in discretionary spending and reach a compromise, he said, as per Politico. "I don't think there will be a government shutdown. I'm quite optimistic." Regardless of how this week's showdown goes, it's small potatoes compared to the next big budget fight, explains the New York Times. Rep. Paul Ryan and House Republicans will unveil their budget for next year on Tuesday, laying out their long-awaited plan to rein in the deficit and the debt, and to take on the politically volatile subject of long-term fixes to Medicare and Social Security. (More government shutdown stories.)
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