McConnell, Schumer Announce Bipartisan Budget Deal To Avoid Shutdown

In a deal that will spare the American people the anxiety inducing last-minute political brinksmanship that precipitated last month's government shutdown, the leaders of Senate Democrats and Republicans have announced a two-year budget deal that will include funding for opioid abuse treatment, badly needed disaster relief and funding for some of President Trump's infrastructure plan.

According to Bloomberg, the plan will allocate nearly $300 billion more for defense and non-defense spending. While BBG said the deal will likely avert a shutdown and end months of squabbling over funding the federal government, To be sure, leaders in the House haven't signed on yet.

As it stands, the agreement would raise defense spending by $80 billion over current law in this fiscal year and $85 billion in the one that begins Oct. 1, an unnamed "Congressional official" told Bloomberg. Non-defense spending would rise by $63 billion this year and $68 billion next year.

Of course, Congress must still finish the appropriations for this fiscal year, then complete the 2019 appropriations.

 

While the agreement provides a framework to lift spending caps, Fox reported that lawmakers will still need to pass an omnibus spending bill by March 23.

 

 

The compromise also includes defense spending that is a top priority of conservative Republicans, while raising domestic spending by a commensurate amount.

McConnellSchumer

Notably, the deal would also suspend the US debt ceiling for two years.

To secure the agreement, Republican Senate leader Mitch McConnell reiterated his promise to allow a free-wheeling debate over an immigration compromise next week that he said will be "fair to all sides."

Meanwhile, Senate Democratic Leader Chuck Schumer said the deal was "good for the American people" - a remark likely made with one eye on the polls ahead of November's mid-term elections.

The leaders also touted the deal as a bipartisan triumph:

*MCCONNELL: BILL IS SIGNIFICANT BIPARTISAN STEP FORWARD

*MCCONNELL: IMMIGRATION DEBATE WILL BE FAIR TO ALL SIDES

*MCCONNELL SAYS DEAL INCLUDES DISASTER AID, INFRASTRUCTURE

*MCCONNELL SAYS NEGOTIATORS AGREE ON BUDGET DEAL*SENATE LEADERS ANNOUNCE BIPARTISAN TWO-YEAR BUDGET DEAL

*MCCONNELL SAYS DEAL ISN'T PERFECT BUT COMMON GROUND FOUND

*MCCONNELL SAYS DEAL ENDS BUDGET CAPS UNDER SEQUESTRATION

*MCCONNELL: DEAL INCLUDES FUNDING FOR OPIOID ABUSE

* * *

"The compromise we’ve reached will ensure that for the first time in years our armed forces will have more of the resources they need” and ensure funding for disaster relief, infrastructure and work to combat opioid abuse, McConnell said from the Senate floor.

* * *

Treasury yields shot higher after the deal thanks to spending increases embedded in the plan:

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The dollar also moved higher...

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Comments

Full Court Lug… Cash2Riches Wed, 02/07/2018 - 13:12 Permalink

Schumer is not stupid (one of the few on the Dem side who isn't). He knows that shutting down the gov't over illegal aliens is a massive loser at the polls, so he's trying to blow smoke about other concessions as an excuse for agreeing to this bill.

His base will still crucify him for it though. Hardcore shitlibs will only see "Schumer agrees to fund gov't without any protections for DACA illegals" and run off to protest outside his house all night.

Meanwhile the DACA expiry clock is still ticking down, and Trump won't sign anything that doesn't include his list of requirements. Schumer is still backed into a corner where his hardcore base demands full amnesty with no concessions, but the entire rest of the country wants Trump's full plan.

They all have to go back, and they will go back!

In reply to by Cash2Riches

steve2241 SRV Wed, 02/07/2018 - 15:05 Permalink

Too bad no end to Anchor Babies.  That right there produces at least 500,000 new citizens a year, children of illegal migrants born on U.S. soil.  Many countries in the world have a similar law, giving citizenship to babies born on their soil, but none are as wealthy and have so much to offer as does the U.S.  The country shouldn't be giving away citizenship like that.

Edit - I know of at least two women in the U.S. illegally that are currently pregnant.  500,000 is a conservative estimate!

In reply to by SRV

Endgame Napoleon steve2241 Wed, 02/07/2018 - 18:57 Permalink

That is actually the most important issue of all—the only one that will really stop the wage-cutting flow of illegal immigration due to the way welfare and tax-welfare works. It seems like birthright citizenship has to be dealt with by the SCOTUS or by a constitutional amendment. What is the legislative remedy? Swamp Congress has the power of the purse. They could remove the pay-per-birth monthly welfare / child-tax-credit welfare for illegal aliens. Instead, they doubled child-tax-credit welfare, including for illegal aliens.

In reply to by steve2241

Give Me Some Truth ThinkerNotEmoter Wed, 02/07/2018 - 14:34 Permalink

Talk about "burying the lead." About 12 paragraphs down, we get the sentence: "Notably, the deal suspends the debt ceiling for two years."

So the government can borrow all that it wants and needs for the next two years. No wonder silver and gold just nose-dived. Unlimited creation of fiat debt is certainly bearish for "safe haven" assets, right?  

In reply to by ThinkerNotEmoter

Endgame Napoleon Give Me Some Truth Wed, 02/07/2018 - 19:06 Permalink

I have no idea, but from reading this blog, I would think that more debt-based spending would make gold, silver and the safer / non-scammy cryptos more attractive. Funny, MSM actually gave BitCoin guys some respect today, interviewing a couple of young guys who started a BitCoin management firm. They were just students, working regular jobs, and they got in when BitCoin was new. That was smart. 

In reply to by Give Me Some Truth

Endgame Napoleon ThinkerNotEmoter Wed, 02/07/2018 - 18:51 Permalink

Great point and to the point. We need more logic-driven people, making the Swamp stay on subject with suggestions like that. Swampers get one over on Deplorables by way of “emotive” diversion. It is not that Deplorables fail to notice; it is that they are often driven down an emotive path at key times in the process.

Intentionally............

In reply to by ThinkerNotEmoter

Endgame Napoleon Full Court Lug… Wed, 02/07/2018 - 18:43 Permalink

Well, good. As long as they do not consent to amnesty for 1.8 million often welfare-enabled, low-wage / part-time, illegal job seekers, the Deolorables might not be 100% betrayed. If Deplorable voters are put dead last on issue #1, we will not turn out to vote for these RepubliCONs.

You can bet your last stock-trading dollar on that. 

Thing is, the DACAs—aged 35 and younger—will still be here, having sex, reproducing and taking part-time jobs to stay below the earned-income limit for monthly welfare that covers their groceries / rent and now-doubled child-tax-credit welfare up to $6,444.

Thanks to Mitch’s pay-per-birth Swamp, including RepubliCON Establishment tax-welfare pushers, like Rubio, and even some Freedom Caucas tax-welfare pushers, refundable child-tax-credit welfare for the part-time workers who are maximum womb producers now exceeds 3 months of full-time pay for many non-welfare-eligible / non-womb-productive citizens, struggling to cover rent that absorbs more than half of their pay and all other bills on earned-only income. 

Those DACAs, they’ll still be in the job-seeker pool—counted as “employed,” when working part time and, in reality, living on welfare for sex and reproduction, just like they always were, unimpeded by eVerify.

It does look like Mitch is not going to slap Deplorables in the face for standing in long lines to make sure that Swampians have jobs @ $175k, though.

There should be a thorough public debate on immigration. I wonder how many Swampians we can count on not to glorify illegal immigrants, putting them up on a pedestal, rather than telling the ample evidence on the other side of this issue, including the welfare pay for reproduction that makes it easy for them to accept low pay and part-time hours and / or under-the-table work. 

Either way, the budget is not just loaded down with spending in that department. There is not one deficit hawk in the entire Swamp. They are all big spenders, while attributing it just to Trump. 

 

In reply to by Full Court Lug…

exlcus Cash2Riches Wed, 02/07/2018 - 13:32 Permalink

Indulge me please and explain how the deep state will suffer from this attack.

He didn't attack the FISA court. He didn't attack the surveillance state.

All the attacks have been against Steele and these two FBI lovebirds.

He got revenge on the people who personally opposed him. This was not a deep state hit, it was revenge against a few key people. Trump is famous for getting revenge.

In reply to by Cash2Riches

MK ULTRA Alpha Squid Viscous Wed, 02/07/2018 - 14:20 Permalink

This is a national defense warning order. Pelosi is trying to set off a race war and is succeeding.

Pelosi is on the House floor for a non-stop, knock out, drag out, throw down, over the Dreamers. She's in everybody's face and plans to sabotage the budget process.

The walls are closing in on the illegals and the Dreamers, the Democratic party leadership in the Senate went for the money(pork) for reelection, casting the 1.8 million Dreamers under the bus.

Depending on the Pelosi show in the House, early indications, a violent backlash from radical communist illegals and supporters is developing. Be aware of your surroundings, the race war is beginning.

Will your local police side with you or the militant communist illegals just because you were born here? Don't bet on it. The police are brainwashed like the rest, the illegals are our replacements and we have no say in it.

How many whites will be killed off before the over 30 million illegals are deported? The numbers are coming in everyday, the race war is now an operational paradigm. Aren't these acts of terror, or is it just a crime when an illegal kills your child? We spend a huge amount of money for a security system setup to prevent terrorist attacks, what is the difference between a foreign born terrorist and a foreign born illegal MS13? Is the act not as evil, is it because of the political plank of the DNC, illegals are to be championed above Americans?

In reply to by Squid Viscous

karenm 1777 Wed, 02/07/2018 - 13:10 Permalink

Lemme guess..

 

In 24 hours we'll find out they increased the budget far too much and that'll be the narrative for rates to skyrocket and the bond market to "hate the deal."

 

See folks, this is all a game, all theater. And of course the markets are a primary objective in this game. 

In reply to by 1777

One of We 1777 Wed, 02/07/2018 - 13:12 Permalink

From that statement I would gather you haven't been paying attention for the last 30 years. Those fuckers are two globalist peas in a pod.  Generals vs Globetrotters.  They cross dress so you can't figure out which team they are on but it doesn't matter.  Mcarthy was correct though his methods were flawed - the bolsheviks fled the Soviet Union and joined the traitors already in DC.

In reply to by 1777