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[cartoon_soldier]

http://talkingpointsmemo.com/dc/budget-deal-paul-ryan-patty-murray-sequester-mini-bargain

The deal announced by Rep. Paul Ryan (R-WI) and Sen. Patty Murray (D-WA) would raise establish spending at $1.012 trillion in 2014 -- up from the $967 billion required by the across-the-board sequester cuts. It provides for about $63 billion in sequester relief, divided equally among defense and non-defense programs.

The agreement offsets the sequester relief with a mix of targeted spending cuts and non-tax revenues via higher government fees and sales, totaling $85 billion over 10 years. That means it would reduce the deficit by $20-$23 billion. The revenue raisers include higher federal worker contributions to the pensions and higher airline ticket fees. In an effort to secure conservative support, none of the revenues come from the tax code.

The deal also does not touch Social Security, Medicare benefits or other "mandatory" spending, which was a necessary prerequisite to win over Democrats, who objected to cutting those programs unless federal tax loopholes were closed to raise revenues. The deal does, however, extend the sequester's 2 percent cuts to Medicare providers by two years. Instead of lapsing in 2021, those cuts will now lapse in 2023, a senior Democratic aide said.

Will it pass the house?

In the Republican-led House, which is set to adjourn Friday for the rest of the year, numerous conservatives oppose the framework because they want to maintain federal spending at the sequester level of $967 billion in 2014. Outside conservative groups including Heritage Action, Americans For Prosperity and FreedomWorks -- who are very influential among House Republicans -- made their opposition to the deal known before it was announced, calling for keeping spending low and for cuts to entitlement programs.

A great interesting month begins!

 

[The Technomancer]

. It provides for about $63 billion in sequester relief, divided equally among defense and non-defense programs.

ugh I hate how this makes it sound like its some kind of natural diasaster

 

[Buddha Beam]

I'd say there's about a 6 in 10 chance the tea party nutters blow this deal up.

 

[gaugebozo]

I'd say there's about a 6 in 10 chance the tea party nutters blow this deal up.

Ahhh, an optimist!

 

[davepoobond]

Boner won't put it to a vote.