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Update: It does appear a deal has been reached, and it appears at first glance to be as bad as I suspected.
Initial post: It appears that the White House and House Democrats are about to finalize a budget deal that will guarantee the national debt will continue to balloon for years to come, thus growing the power of Washington.
These sources tell FOX Business that the deal includes spending caps and debt ceiling increases for two years each, respectively. The deal reportedly includes spending increases for defense and non-defense spending.
A source close to the negotiations tells FOX Business that, for now, the deal would put no restrictions on reprogramming money for spending items – like a border wall.
Sources tell FOX News’ Chad Pergram that the deal would permanently end the sequester and also suspend the debt limit until July 31, 2021. [emphasis mine]
The highlighted words will also continue the decades-long shift of power from Congress to the President. Congress might allocate money to specific projects, but this deal, if agreed to as described, will now allow the President to rearrange the budget however he sees fit.
While Republicans might celebrate this change so that Trump can build his wall, in the end we will all suffer, because this arrangement ends up putting almost unlimited power in the hands of a single individual.