US Senate passes spending, debt limit deal

The Senate Will Vote on a $2.7 Trillion Budget Deal That Adds to the National Debt. The Democrats' Debates Ignored It.

The agreement between the administration and Pelosi lifts the limit on the government's $22 trillion debt for two years and averts the risk of the Pentagon and domestic agencies from being hit with $125 billion in automatic spending cuts that are the last gasp of the 2011 Budget Control Act, a complex experiment aimed at forcing lawmakers into tough fiscal decisions that they couldn't arrive at on their own.

The Senate sent President Donald Trump legislation to extend the debt limit and allow more government spending until after next year's election - a bipartisan deal that drew opposition from some who expressed concern about the deficit.

That Senate vote was supposed to take place Wednesday, but was postponed a day amid rumors that Senate Majority Leader Mitch McConnell (R-Ky.) was having a hard time getting a majority of his caucus to back the plan, Politico reported yesterday. In an earlier statement, MacGuineas had urged members of Congress to "cancel their summer recess and return to the negotiating table for a better deal". The tea party-driven House GOP conference broke against it by a 2-1 ratio, but most pragmatists see the measure as preferable to an alternative fall landscape of high-wire deadlines and potential chaos.

Democratic and Republican leaders in both chambers scrambled to rally support for the budget deal before lawmakers left Washington.

Yet several Senate Armed Services Committee members voted "no": Republican Sens.

The vote marks the last legislative action for the Senate for a while, as it starts a five-week recess. But House Democrats will need to cut about $15 billion in spending from nondefense accounts and increase defense discretionary spending in their bills by $5 billion. "Given the exigencies of a divided government, we knew that any bipartisan agreement on funding levels would not appear flawless to either side", McConnell said. The government was approaching its limit on borrowing, about six months earlier than predicted.

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Without a lifting of the debt ceiling, the Treasury Department would be unable to borrow money to pay the United States government's bills. It also sets budget caps for two years that will permit US$324 billion in additional domestic and defense spending above the current cap levels.

In a series of tweets over the past week, Trump has hailed the budget deal with Pelosi, singling out the record funding for the military as the principal gain made by the administration negotiating team, which was headed by Treasury Secretary Steven Mnuchin.

Schumer accused the chamber's top Republican of either intentionally wanting Russian Federation to interfere with USA elections or being scared of President Trump's temper tantrums.

"There is always plenty of time to CUT!" he wrote on Twitter.

However, it wasn't enough to convince many fiscal conservatives who were opposed to the significant spending. The Texas Republican emphasized that the Bill represented a rare compromise. Ted Cruz and Florida Sen. "They try to get people to buy into hopelessness or just plain propaganda so that they don't vote or vote in a different way than they would if they had different information", he said.

But a tea party senator, Republican Rand Paul of Kentucky, says the legislation really is a spectacular failure because it will add hundreds of billions of dollars to the country's spiraling debt. Paul called the move part of a spending problem in Washington, D.C., and said it binds future generations to massive levels of debt.

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