- Oct 17, 2011
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President Donald Trump and congressional leaders announced late Monday they had struck a critical debt and budget agreement. The deal amounts to an against-the-odds victory for Washington pragmatists seeking to avoid politically dangerous tumult over the possibility of a government shutdown or first-ever federal default.
The deal, announced by Trump on Twitter and in a statement by Democratic House Speaker Nancy Pelosi and Senate Democratic leader Chuck Schumer, will restore the government’s ability to borrow to pay its bills past next year’s elections and build upon recent large budget gains for both the Pentagon and domestic agencies.
“I am pleased to announce that a deal has been struck,” Trump tweeted
Nobody can claim a big win — though they did — but both sides view it as better than a protracted battle this fall that probably wouldn’t end up much differently.
However, it also comes as budget deficits are rising to $1 trillion levels
The deal, announced by Trump on Twitter and in a statement by Democratic House Speaker Nancy Pelosi and Senate Democratic leader Chuck Schumer, will restore the government’s ability to borrow to pay its bills past next year’s elections and build upon recent large budget gains for both the Pentagon and domestic agencies.
“I am pleased to announce that a deal has been struck,” Trump tweeted
Nobody can claim a big win — though they did — but both sides view it as better than a protracted battle this fall that probably wouldn’t end up much differently.
However, it also comes as budget deficits are rising to $1 trillion levels