Trump, Congress reach deal to raise debt, increase spending

President Trump and congressional leaders reached a deal Monday evening to boost spending by hundreds of billions of dollars, while carving out trillions of dollars in new debt space for future borrowing.

The deal clears the path for Congress to write spending bills this year and next year, with increases in both defense and domestic spending.

The federal debt limit, meanwhile, will be suspended for two full years, giving the government the power to borrow and spend without having to worry about a default — but adding to the country’s growing sea of red ink.

Congressional leaders also agreed not to use the spending process to start new policy fights. That is a slight victory for the Trump administration, which was facing the prospect of having to bat down a number of liberal wish-list items such as attempts to cut of funding for some of the president’s immigration moves.

Instead, the leaders promised, “there will be no poison pills” or “additional new riders” attached to any of the spending bills unless both GOP and Democratic leaders in the House and Senate all agree to them.