Congressional Leaders Reach Bipartisan Budget Deal
Budget negotiators have reached a bipartisan agreement, removing the threat of another U.S. government shutdown ahead of the Dec. 13 deadline. The deal, brokered by Republican Rep. Paul Ryan and Democrat Sen. Patty Murray, eliminates $63 billion of unpopular sequester cuts to domestic and military spending. Some of these costs are absorbed by deficit-reduction measures — totaling $22.5 billion — leaving overall spending at $1.012 trillion for 2014 and $1.014 trillion for 2015. President Obama called the deal “a good first step.” But Ryan will have to win over recalcitrant House Republicans.