Well, it’s a done deal. Obama has signed off on the two-year budget agreement, which raises the debt ceiling until Mach of 2017 (via ABC News):
Tuesday was the deadline by which the U.S. would have defaulted on its financial obligations without an agreement.The legislation raises the limit on the government's debt until March 2017, pushing reconsideration of the issue until after next year's presidential and congressional elections.
It sets the federal budget through the 2016 and 2017 fiscal years and eases strict spending caps by providing an additional $80 billion, split between military and domestic programs.
Breaking News: President Barack Obama signs a two-year bipartisan budget deal. "There’s no better Christmas present for the American people," he said.
Posted by Fox News on Monday, November 2, 2015
As he signed the bill into law, Obama said, “What we now see is a budget that reflects our values, that grows our economy, creates jobs, keeps America safe … It’s going to strengthen the middle class by investing in critical areas, like education job training, [and] basic research.”
He also added “it’s paid for in a responsible, balanced way.”
Obama thanked Democratic and Republican congressional leadership for sending this legislation to his desk. He hopes they can build upon this with future spending bills that continue to invest in “America’s priorities without getting sidetracked by a whole bunch of ideological issues that have nothing to do with our budget.” The president called this agreement a “Christmas gift” to the American people.
While former Speaker John Boehner may have cleaned the barn for Paul Ryan, the deal was considered by many conservatives to be a total surrender to the Obama White House. Guy’s post highlighted this aspect. In all, the only positive aspect of this deal is that it avoids Shutdown Theater during an election year.
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