Outline of a Debt Limit Deal

play guide: “The two sides appear to be in agreement on raising the debt ceiling for two years (through the 2024 election) and essentially capping discretionary spending over that time frame for everything except the Pentagon and veterans programs.”

“Where Republicans relented: GOP negotiators to begin with demanded that Democrats scale back spending on non-defense techniques to FY 2022 ranges. But they have got now agreed to pare again the ones expectancies and meet the White House nearer to (however underneath) its personal be offering of freezing spending at FY 2023 ranges.”

“Where Democrats relented: Because the deal will scale back non-defense discretionary spending underneath the FY 2023 stage, Republicans can say that they secured spending cuts. But the inchoate settlement will even come with accounting maneuvers to permit Democrats to shift budget from in other places, which means that the cuts are virtually a wash.
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