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Senate to Vote On Cut, Cap & Balance Act Saturday

Comstock/Thinkstock(WASHINGTON) -- The Senate will hold a cloture vote on the motion to proceed this Saturday on the Cut, Cap and Balance Act, which the House of Representatives passed Tuesday night.

Senate Majority Leader Harry Reid, D-Nev., announced on the Senate floor Wednesday evening that the vote will occur on Saturday morning, but he still “hopes” that a deal could be worked out for a vote sooner.  

But Senate Minority Leader Mitch McConnell, R-Ky., took to the floor immediately afterward and said that he welcomes a debate over Cut, Cap and Balance and that he is looking forward to a Saturday vote.

The plan has no hopes of passing in the Democrat-controlled Senate.  Democrats skewered the plan Wednesday on Capitol Hill, calling it “political theater,” a “waste of time,” and a “show vote,” and announced it dead on arrival after the House sent it over this week.

“What a sham! What a scam!” Senator Mikulski, D-Md.,  said Wednesday, “I'd be tempted to just blow it off if it were not so cruel, stupid and dangerous.  It's cruel because it invents new rules of how we're going to calculate Social Security, what we're going to do to Medicare. It's stupid because it doesn't solve our problems. And it's dangerous because it could bring our economy down. It does cut, cap and kill Medicare, but it could very well kill the future of our country.”

Democrats have argued that voting on something that everyone knows won’t pass in the Senate, and that the president has said he will veto if it reaches his desk, is a waste of time as the clock ticks closer to August 2 to reach a deal on raising the debt ceiling.

The plan would cut total spending by $111 billion in FY 2012. The legislation would also cap total federal spending by creating a “glide path” that caps spending at 22.5 percent of GDP next year, and gradually decreases spending levels over 10 years levels until locking in at 19.9 percent of GDP in 2021 and beyond.

The legislation would require that Congress pass a Balanced Budget Amendment (BBA), and it would need to be sent to the states for ratification before the president’s request for a debt limit increase is granted.

Senate Majority Leader Reid this week announced that the Senate will stay in session everyday -- including weekends -- until Congress sends President Obama legislation to avoid a defaulting on the nation’s debts.

Copyright 2011 ABC News Radio

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