Friday, April 8, 2011

Deal Reached to Avoid Government Shutdown

The deal is reached, but there will probobly still be a shut down, at least for a few hours, as the paperwork may not be completed in the next 30 minutes. I will have to see more detail on exactly what the deal is before I can comment on the merits.

"Perilously close to a government shutdown, President Barack Obama and congressional leaders forged agreement late Friday night on a deal to cut more than $37 billion in federal spending and avert the first closure in 15 years.

Obama hailed the deal as "the biggest annual spending cut in history," and House Speaker John Boehner said that over the next decade it would cut government spending by $500 billion.

"This is historic, what we've done," said the third man in the talks, Senate Majority Leader Harry Reid, D-Nev.

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