Under GOP control, budget deal blows through spending caps
The massive bipartisan budget deal announced by Sens. Mitch McConnell and Chuck Schumer includes hundreds of billions of unpaid-for new spending, potentially ending an impasse over government funding but giving fiscal hawks heartburn.
Why this matters: This adds more new spending than any budget deals made under the Obama presidency (although the stimulus package passed during that time was very pricey). Yet politically, most saw this as the only way forward, reflecting both gridlock and the declining influence of fiscal conservatism in Congress.