Budget talks headed to 'home stretch,' Schumer says

Democratic Policy Committee Chairman Sen. Charles Schumer (D-N.Y.) said congressional leaders are nearing a deal to finalize the federal budget for the remainder of fiscal 2011.

"We are finally headed into the home stretch," Schumer said on the Senate floor Thursday afternoon. "We are at the doorstep."

Schumer confirmed reports that Republicans and Democrats are working toward $33 billion in spending cuts. 

But even as he hailed progress in the talks, Schumer did not miss a chance to take a swing at the Tea Party.

"There are outside sources that don't like this turn of events," Schumer said, referring to the Tea Party members who rallied outside the Capitol Thursday.

"They want [Speaker of the House] John Boehner [R-Ohio] to abandon these talks even if that means a shutdown on April 8," Schumer said. "This is a reckless and, yes, extreme position to take."

The measure funding the government expires April 8.