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The Good News: CBO Confirms Debt Deal Reduces Biden’s Borrowing by $2.1 Trillion

That’s baby step progress. Instead of borrowing $14 trillion over the next decade or so, we will borrow closer to $12 trillion with this deal. (We know that will make our readers sleep better tonight.)

More importantly, CBO also reports as shown below that nondefense discretionary spending will indeed fall by $40 billion below last year’s level under the budget deal – IF the caps aren’t pierced.

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