It looks like the world might not be ending tomorrow after all. Last night, President Obama and Congressional leaders agreed on a budget deal with just one day before the so-called default deadline. The vote will be held today and while neither side seems happy with it, both got some things they wanted…
For instance… Obama got his longterm extension of the debt ceiling, allowing the U.S. to borrow up to $2.1 trill more, which should get him past the next election.
- He’ll use the majority of that money for button campaign buttons reading: “Can We Borrow More Money? Yes We Can!”
- He’s still sticking to “Change You Can Believe In”… and $2.1 Trillion is a whole lotta change.
Meanwhile Republicans got $2.4 trillion in deficit reduction. That’s less than they wanted, but it was all spending cuts, and eliminated the tax hikes the Dems wanted.
- Including the one to buy Obama a new teleprompter.
- The first spending cut: Nancy Pelosi and Barney Frank will now share the same handbag.