” The budget deal increases both spending and revenue, while technically avoiding tax increases and not touching the basics of the big non-discretionary spending programs. The deal also transforms a share of the across-the-board cuts known as the sequester into targeted cuts.
That last bit is a big relief to defense hawks on the Republican side because sequestration has taken tens of billions from the Pentagon budget and was set to cut deeper. However, the fact that the deal would raise government spending above sequester levels has conservative Republicans (and, to hear Boehner tell it, their think-tank overlords) up in arms.
Many budget bookmakers think Republicans are silly to complain about such a deal because they have basically won the fight over sequestration, which under current law remains in place through 2021. Under the Budget Control Act of 2011, a second round of sequester cuts landing total discretionary government spending at $967bn were to take effect in January. The Democrat-led Senate passed a competing proposal that would have set spending at $1.058tn.
The deal splits the difference between those two numbers, capping discretionary spending at $1.012tn in 2014 and $1.014tn in 2015.
The official summary is here [pdf]. “
Ryan has doomed his chances at higher office and the establishment Republican house has shown that it is no more fiscally responsible than those RINO clowns in the Senate .