It wasn't easy, but a bipartisan deal on the debt ceiling is now complete. As stevebenen writes, the next challenge is figuring out how to get the agreement through Capitol Hill.
Was it easy? No. Was it part of a dangerous hostage crisis that didn’t have to happen? Yes. Should anyone fully exhale before the package is signed into law before the x-date deadline that is less than a week away? Certainly not. But Democratic and Republican leaders set out to reach a budget agreement, and as NBC NewsKey negotiators struck an agreement in principle Saturday night to extend the debt ceiling and avert a catastrophic default, just days before the Treasury Department said the U.S.
But as the dust settles on the weeks-long negotiating process, let’s pause to take stock of where things currently stand.As part of the agreement, the debt ceiling will be suspended until Jan. 1, 2025, at which point the Treasury Department would start using “extraordinary measures” to pay the nation’s bills — a process involving moving money around to prevent default — for several months. As for the budget, negotiators agreed to relatively modest spending caps for two years.
Also note, the parties agreed to make it easier for certain energy projects to get permits, and in an apparent nod to Sen. Joe Manchin, the package includes approval of a new gas pipeline in the conservative Democrat’s home state of West Virginia.Effectively, yes, though budget arithmetic can get a little tricky.
More specifically, funding for the military, veterans care, and entitlement programs such as Social Security and Medicare would not be cut under this agreement.
GOP hardliners went into this process with a ridiculous wish list and high expectations that they’d walk out big winners. That clearly hasn’t happened. Indeed, many of the conservative elements in the package likely would’ve been part of a bipartisan budget deal this year, whether Republicans launched a debt ceiling hostage crisis or not.“ of his conference is on board with the agreement.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cardano Sees Striking 91% Surge in DEX VolumeCardano, a prominent player in the blockchain arena, has witnessed a striking 91% surge in its decentralized exchange (DEX) volume over the past week
Read more »
Scientists Discover Two Striking New Species of Carnivorous PlantsA group of botanists from Ecuador, Germany, and the United States have identified two new distinct species of carnivorous plants notable for their striking appearance. These species are a part of the butterworts family (known scientifically as the genus Pinguicula), a group of insectivorous flowerin
Read more »
‘The Buriti Flower’ Review: Indigenous History Unfolds in a Striking Mix of Nonfiction and DramaFilmmakers João Salaviza and Renée Nader Messora collaborated with villagers in Brazil for their hybrid feature.
Read more »
The 27 Best Dressed Stars at This Year’s Cannes Film FestivalThere was no shortage of striking gowns on the CannesFilmFestival red carpet this year, but these 27 best-dressed stars looks went above and beyond. See them all here:
Read more »
Homeless encampment causes friction between Burien city leaders and King CountyA possible legal battle looms following King County's refusal to assist with the City of Burien's efforts to remove a growing homeless camp in Downtown Burien.
Read more »
Black Leaders in Banking: Q&A With Wells Fargo’s Darlene Goins - Word In BlackDarlene Goins says women of color shouldn't 'let imposter syndrome talk you out of what you so rightfully deserve.' WellsFargo financialjourney
Read more »