Senate Majority Leader Harry Reid (D-Nev.) said Wednesday that any spending plan will need the support of both parties and both chambers of Congress.

"Neither party can pass a bill without the other party, and neither chamber can send that bill to the president without the other chamber," he said. “If we're looking for a key study and why cooperation is necessary, that's as clear as it comes.”

Rep. Lynn Woolsey (D-Calif.) signaled agreement with a Rolling Stone editor who likened the general's performance to that of the troubled actor.

House Minority Whip Steny Hoyer (D-Md.) on Wednesday argued that Congress should eliminate the $1.1 trillion in tax "loopholes and preferences" as a way of reducing the deficit because focusing only on spending cuts to discretionary spending will require cuts that go too deep for people who rely on these discretionary programs.

"Our tax code is a monumental collection of rules and regulations, riddled with loopholes and preferences which are a drain on job creation and frankly exacerbate the deficit," Hoyer said on the floor. Hoyer said these so-called "tax expenditures" exact a high price on U.S. productivity because businesses and families spend millions of hours working to minimize their taxes. He said ending these tax breaks and imposing lower tax rates overall would be more efficient.

Rep. Ron Paul (R-Texas) on Tuesday said he would soon introduce the Free Competition in Currency Act, which would dismantle what he described as the federal government's self-proclaimed monopoly on legal tender in the U.S. and allow states and private enterprises to issue their own currency.

Paul made it clear that his intention is to end the ability of the federal government to control the supply of money and spend it as it sees fit, including on wars that Paul has consistently opposed.

The House will meet at noon today to begin consideration of H.R. 861, the Neighborhood Stabilization Program (NSP) Termination Act, which would end a federal program in which the government helps buy and develop foreclosed homes.

But the House has decided to postpone a planned vote on H.R. 839, the Home Affordable Modification Program Termination Act. That bill would end a Treasury program aimed at helping 3 to 4 million people by modifying at-risk mortgage loans. A vote on this bill is expected the week of March 28.

On Tuesday, the White House said it would veto both bills if they were approved by Congress and sent to the president.

Sen. Dan Coats (R-Ind.) used his second maiden speech on the Senate floor Tuesday to call on President Obama to take leadership on deficit reduction and entitlement spending.

“No matter what we do as elected representatives we cannot ultimately succeed without the engagement and the support and the leadership of the President of the United States,” Coats said.

Sen. Majority Leader Harry Reid (D-Nev.) has filed cloture on a bill to fund the government for three weeks after March 18.

The bill would slash $6 billion in government spending.

The House approved the same spending resolution by a 271-158 vote Tuesday afternoon despite opposition from a group of conservative lawmakers who called for deeper cuts and the inclusion of social policy riders.

Unless a unanimous consent agreement is reached, the stopgap bill will percolate in the Senate for about 30 hours before further action can be taken.

Sen. Barbara Boxer (D-Calif.) has some derogatory names for an amendment offered by Senate Minority Leader Mitch McConnell (R-Ky.) to limit the EPA's authority to regulate greenhouse gases.  

Boxer said she would like to rename the amendment the "Reliance on Foreign Oil Forever Act" or "The More Air Pollution for Americans Act."

McConnell's amendment, officially named the Energy Tax Prevention Act of 2011, would permanently block the Environmental Protection Agency (EPA) from regulating greenhouse gas emissions from stationary sources like power plants and refineries.

Rep. Jean Schmidt (R-Ohio) argued on the House floor Tuesday night that while women have a legal right to abortion in the U.S., women should reject this decision and bear all babies to term.

"Every one of us has the right to life, born and unborn, and it is the women who have the responsibility to make sure that that baby is born," Schmidt said.

"Unfortunately our courts, over 33 years ago, decided to change that, and decided that women have the right to end that life," she said. "But Mr. Speaker, we don't have that right. It is our responsibility to bear those children."