By David Lawder and Richard Cowan
WASHINGTON Sun Dec 8, 2013 11:28am EST
A view of the Capitol Building in Washington October 15, 2013. Credit: Reuters/Joshua Roberts
(Reuters) – A minimalist U.S. budget deal that congressional negotiators hope to reach in coming days will do almost nothing to tame rising federal debt, but it could usher in a nearly two-year fiscal truce, minimizing the risk of future funding crises and government shutdowns.
If the accord comes together, it would blunt some of the automatic “sequester” spending cuts and set funding levels at around $1 trillion for fiscal 2014 and 2015 for government agencies and programs from the military to national parks.
Such a deal would not address an increase in the federal borrowing limit, which is expected to come up again by the spring, leaving conservatives a pressure point to try to exploit. Continue reading “Analysis: U.S. budget deal could bring truce, minimize shutdown threats”