Congress and the White House have reached a tentative budget deal that would avert a default
Tuesday, October 27, 2015 12:22 AM EDT
After five years of bitter clashes, Republican congressional leaders and President Obama on Monday tentatively settled what is likely to be their last budgetary fight by agreeing to modestly increase spending over the next two years, cut some social programs and raise the federal borrowing limit.
The accord, which must be approved by the House and the Senate, would avert a potentially cataclysmic default on the government’s debt and dispenses with perhaps the most divisive issue in the capital just before Speaker John A. Boehner is expected to turn over his gavel to Representative Paul D. Ryan of Wisconsin.
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NYTimes
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