Trump tweets support for budget deal, saying it would help 'great military'

Senate Majority Leader Mitch Mc Connell and House Speaker Paul Ryan

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Senate Majority Leader Mitch McConnell on Wednesday announced a "bipartisan agreement" between Republicans and Democrats on a two-year budget deal just two days before the deadline for another government shutdown. It's worth it for our country. Both adjustments extended through the 2017 fiscal year and have expired.

The White House is also backing the latest spending plan despite conservative opposition.

The growth assumptions in Trump's budget were first reported by the Wall Street Journal.

It would extend the Children's Health Insurance Program for 10 years.

Trump on Wednesday evening praised the agreement in a tweet.

"We came together with an agreement that is very good for the American people", Democratic Minority Leader Chuck Schumer of NY said.

The measure, aides said, also contains nearly $90 billion in overdue disaster aid and an increase in the government borrowing cap that would prevent a first-ever USA government default on its obligations.

But moving legislation quickly through the upper chamber of Congress requires consent by all 100 members, and Republican Senator Rand Paul threw a wrench in the works by objecting to a rapid vote.

Moderate Republicans, appropriators and defense hawks argue the deal is a good one that clears the legislative deck, keeps the government funded and gives the military much-needed financial certainty despite the fact that it increases spending in a major way.

The House Freedom Caucus, the chamber's fiscally conservative wing, also opposes the bill out of concerns that it would lead to more government spending. "After months of fiscal brinkmanship, this budget deal is the real first sprout of bipartisanship, and it should break the long cycle of spending crises that have snarled this Congress and hampered the middle class".

The bill was equally delayed in the House after Minority Leader Nancy Pelosi, D-Calif., made an impassioned case to her colleagues this week to vote against a bipartisan measure negotiated by her Senate counterpart, Minority Leader Chuck Schumer.

That agreement includes a $300 billion increase to both military and non-military spending limits for this year and 2019, and raises the debt until March 1 next year. Instead, the big government freight train is running out of control. The agreement also adds $89 billion in overdue disaster aid for hurricane-slammed Texas, Florida and Puerto Rico, a politically charged increase in the government's borrowing cap and a grab bag of health and tax provisions. "Last time, we had to have a shutdown".

A prolonged shutdown could have spooked already-volatile equity markets.

But the accord exposed growing tensions in both parties, pushing forward longstanding disputes over deficit spending and immigration ahead of a midterm election when voter attitudes toward President Trump will loom large over many races. He had harsh words for his own party. "We had one Trump shutdown, nobody wants another maybe except him". An order Trump issued in September leaves uncertainty for the 690,000 immigrants who were brought here illegally as children that DACA protects from deportation.

Many Democrats support the budget deal, but were unhappy with the compromise because it doesn't tackle immigration - specifically addressing the plight of DREAMers, including the roughly 700,000 immigrants who are in the US illegally after being brought to the country as children and who are enrolled in the Deferred Action for Childhood Arrivals (DACA) program, which is set to expire on March 5.

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