"Bars set this low were made to be jumped over. And yet, it was something of a marvel on Tuesday when lawmakers from the House and the Senate took to the microphones to announce that they had reached a budget deal. The deal, which was negotiated over the past few weeks by House Budget Committee Chairman Paul Ryan (R-Wis.) and Senate Budget Committee Chairwoman Patty Murray (D-Wash.), would set spending for the next fiscal year at $1.012 trillion and increase it to $1.014 trillion the year after that. Should their budget framework actually pass through Congress, it would represent an increase in federal spending by $45 billion in one year and $63 billion over the course of two years. To pay for those increases, Murray and Ryan agreed to hike airline travel fees and require both federal workers and military personnel to contribute a greater portion of funds to their pensions, among other provisions. The deal does not include an agreement to raise the nation's debt limit, which the Treasury has forecast will be hit between March and June. Both Murray and Ryan hailed the deal as a major breakthrough in a press conference...".* The Young Turks host Cenk Uygur breaks it down.
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