Dueling budget plans debut in Congress

By Richard Cowan and David Lawder WASHINGTON (Reuters) – Republicans and Democrats on Tuesday unveiled vastly different plans to slash long-term budget deficits that highlight the wide gulf separating the parties and the difficulty of reaching a bipartisan compromise any time soon. Republicans would balance the budget in 10 years with $4.6 trillion in spending cuts, building on earlier proposals for deep reductions to social programs. Democrats say their plan shrinks deficits by $1. …