No shutdown: Deal sealed on federal budget, debt
WASHINGTON — President Donald Trump and congressional leaders announced Monday a critical debt and budget agreement that’s an againstthe-odds victory for Washington pragmatists seeking to avoid political and economic tumult over the possibility of a government shutdown or firstever federal default.
The deal, announced by Trump on Twitter and in a statement by Democratic House Speaker Nancy Pelosi and Senate Democratic leader Chuck Schumer, will restore the government’s ability to borrow to pay its bills past next year’s elections and build upon recent large budget gains for both the Pentagon and domestic agencies.
“I am pleased to announce that a deal has been struck,” Trump tweeted, saying there will be no “poison pills” added to follow-up legislation. “This was a real compromise in order to give another big victory to our Great Military and Vets!”
The agreement is on a broad outline for $1.37 trillion in agency spending next year and slightly more in fiscal 2021. It would mean a win for defense hawks determined to cement big military increases and Democrats seeking to protect domestic programs.
Nobody notched a big win, but both sides view it as better than a protracted battle this fall.
Pelosi and Schumer said the deal “will enhance our national security and invest in middle class priorities that advance the health, financial security and well-being of the American people.”