President Obama Signs Budget, Defense Bills
President Obama on Thursday signed the bipartisan budget bill agreed earlier this month, setting the stage for an easing of mandatory spending cuts over the next two years.
The Senate approved the spending measure last week, following its approval in the Republican-dominated House.
The president also signed the National Defense Authorization Act for fiscal 2014.
As The Associated Press reports:
"Obama signed the bill Thursday while vacationing in Hawaii. The deal reduces across-the-board cuts already scheduled to take effect, restoring about $63 billion over two years. It includes a projected $85 billion in other savings."
"It's not the grand bargain that Obama and congressional Republicans once had wanted, but it ends the cycle of fiscal brinkmanship for now, by preventing another government shutdown for nearly two years."
"The bill signing marks one of Obama's last official acts in a year beset by the partial government shutdown, a near-default by the Treasury, a calamitous health care rollout and near-perpetual congressional gridlock."