White House and Congress Near Budget Deal
They’re playing nice. The often disparate parties came together in principle on a budget agreement that lifts the debt ceiling through early 2017 and raises defense and domestic spending by $80 billion over the next two years, offset by Medicare premium increases and sales of strategic oil reserves. If both sides can seal the deal it would avoid a potential debt default on November 2nd and subsequent government shutdown on December 11. A vote is likely to come by Wednesday, the same day that Rep. Paul Ryan is expected to be ushered in as the next Republican nominee House Speaker.