Possible Budget Deal Reached

[I AM NOT THAT GUY 5,715]

GOP, White House reach budget deal to avoid government shutdown

WASHINGTON — Congressional leaders reached a tentative budget deal with the White House on Tuesday that would avert a politically risky government shutdown right before the election.

The six-month stopgap measure would keep the government running at current levels through March...

Although the deal would end the threat of a stalemate that could be politically damaging for both parties, it does not address the looming "fiscal cliff" of tax increases and mandatory spending cuts that are scheduled to take effect after Jan. 1.

Votes on the tentative deal are set for September, before the new fiscal year begins Oct. 1, clearing the postelection lame-duck session for the tax-and-spending debate.

Tax rates will rise and spending reductions will sharply cut defense and domestic programs in the new year if Congress fails to compromise. The George W. Bush[/Obama]-era tax rates are scheduled to expire Dec. 31, and the across-the-board spending reductions were part of a deal to raise the debt ceiling.

http://www.latimes.com/news/nationworld/nation/la-na-budget-deal-20120801,0,2332925.story

What a bunch of wimps! No fiscal responsibility this year, and folks no longer serving in elected office will decide tax policy after the election. We are scewed!

[^_^ 5,021]

What a bunch of wimps! No fiscal responsibility this year, and folks no longer serving in elected office will decide tax policy after the election. We are scewed!

Clearly, both parties think they have the upper hand going into this election and don't want to disturb their carefully orchestrated campaigns.

[I AM NOT THAT GUY 5,715]

Clearly, both parties think they have the upper hand going into this election and don't want to disturb their carefully orchestrated campaigns.

One party or both parties are delusional. That much is obvious.

[mawilson 2,133]

This country needs this so-called "fiscal cliff" which among other things includes automatic cuts to (the rate of growth of) defense and expiration of the Obama/Bush tax cuts.