White House and GOP Agree on Budget Deal

“House Republican leaders introduced legislation just before midnight on Monday, finalizing a two-year budget agreement between Congressional leaders and the White House,” the Washington Post reports.

“The introduction sets up a vote as early as Wednesday on the bipartisan budget deal which would increase military and domestic spending and avert a potentially catastrophic default in exchange for long-term spending cuts.”

Wall Street Journal: “For it to pass the House, the pact will need to quickly win backing from most Democrats and at least a few dozen Republicans who have frequently balked at spending and debt-ceiling bills they say don’t do enough to shrink the budget deficit.”

New York Times: “The agreement, negotiated in secret by top congressional and White House aides, is a recognition by Mr. Boehner and Senator Mitch McConnell of Kentucky, the majority leader, that they were staring into a fiscal and political abyss.”