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Obama Signs 2-Year Budget, U.S. NEWS A3
Tuesday 3 November 2015
Debt Deal Before Deadline
President Barack Obama speaks to members of the media after signing H.R. 1314, the “Bipartisan
KATHLEEN HENNESSEY new House speaker. Budget Act of 2015,” Monday, Nov. 2, 2015, in the Oval Office in the White House in Washington,
Associated Press Obama negotiated the before traveling Andrews Air Force Base, Md., on his way to Newark, N.J.
WASHINGTON (AP) — Pres- agreement with Republi-
ident Barack Obama on can and Democratic con- (AP Photo/Andrew Harnik)
Monday signed into law a gressional leaders who
bipartisan budget bill that were intent on steering the
avoids a catastrophic U.S. institution away from the
default and puts off the brinkmanship and govern-
next round of fighting over ment shutdown threats
federal spending and that have haunted law-
debt until after next year’s makers for years. Republi-
presidential and congres- can Rep. John Boehner of
sional elections in Novem- Ohio, who stepped down
ber. both as speaker and from
Obama praised the rare his seat in Congress at the
bipartisan cooperation end of last week, said he
behind the deal, saying felt a sense of urgency to
that 2-year agreement reach a deal before turn-
puts the government on a ing the gavel over to Ryan.
responsible path. Other lawmakers wanted
“It should finally free us the issue taken off the ta-
from the cycle of shut- ble as they look ahead to
down threats and last- next fall’s elections.
minute fixes and allows us Obama called the deal
to, therefore, plan for the “a signal of how Wash-
future,” Obama said in ington should work” and
brief remarks as he signed urged lawmakers to keep
the bill. up the collaboration.
Tuesday was the deadline “My hope is now that they
for averting a default on build on this agreement
U.S. financial obligations with spending bills that
by raising the debt limit. also invest in America’s
The Senate gave final priorities — without getting
approval to the House- sidetracked by a whole
passed bill late last week bunch of ideological is-
and sent it to Obama. He sues that have nothing to
signed it in the Oval Of- do with the budget,” he
fice, shortly before depart- said.
ing on a day trip to New The $80 billion in additional
Jersey and New York. spending is paid for with
The legislation raises the a mix of spending cuts
limit on the government’s and revenue increases
debt through March 2017, touching areas from tax
pushing reconsideration of compliance to spectrum
what in recent years has auctions. The deal would
become a contentious also avert a looming short-
issue until after the elec- fall in the Social Security
tions for the White House disability trust fund that
and Congress in Novem- threatened to slash ben-
ber 2016. efits, and head off an un-
The measure also sets fed- precedented increase in
eral spending through the Medicare premiums for
2016 and 2017 fiscal years, outpatient care for about
and eases strict caps on 15 million beneficiaries.
spending by providing an The plan will lift caps on
additional $80 billion, split the appropriated spend-
evenly between military ing passed by Congress
and domestic programs. each year by $50 billion
The Appropriations com- in 2016 and $30 billion in
mittees must write legisla- 2017, evenly divided be-
tion to reflect the spend- tween defense and do-
ing and they face a Dec. mestic programs.
11 deadline to finish the Another approximately
work. Negotiations over $16 billion would come
the budget, which began each year in the form
weeks ago, wrapped up of inflated war spend-
quickly last week as Re- ing, evenly split between
publican Rep. Paul Ryan the Defense and State
prepared to become the departments.q
