Congressional leaders reach budget deal

From the FINANCIAL TIMES:

…News of the six-month funding deal came in statements from John Boehner, the Republican speaker of the House of Representatives, and Harry Reid, the Democratic Senate majority leader…

The budget deal does not resolve the bigger issue of the so-called “fiscal cliff” looming at the end of the year, when Congress will face a series of difficult and costly budget decisions.

The latest stopgap deal keeps spending within the limits set by the 2011 Budget Control Act, but apparently without extra cuts to overall outlays demanded by Tea Party Republicans…

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