Roll Call: Latest News on Capitol Hill, Congress, Politics and Elections
April 24, 2014

Congressional Budget Deal Little More Than a Cease-Fire

The Washington Post reports that “the first successful budget accord since 2011 … amounts to little more than a cease-fire.”

“Senior aides familiar with the talks say the emerging agreement aims to partially repeal the sequester and raise agency spending to roughly $1.015 trillion in fiscal 2014 and 2015. That would bring agency budgets up to the target already in place for fiscal 2016.”

“Despite his own ambitious blueprint for shrinking spending, [House Budget Committee Chairman Paul Ryan (R-Wis)] said he would not attempt a big deal, because it would require a ‘grand bargain’ in which Democrats agree to cut safety-net spending in exchange for Republican concessions on taxes.”

“But the deal would do nothing to trim the debt, which is now larger, as a percentage of the economy, than at any point in U.S. history except during World War II.”

“Where would that leave the nation’s financial outlook? Not in a particularly good place, budget analysts say … Annual deficits would start growing again in 2016 as the baby-boom generation moves inexorably into retirement. And the debt would again soar.”

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