Kick-the-Can

Well, the "debt ceiling" has been passed by the House of Representatives.  Now, just the formality of the Senate doing its job tomorrow.  Therefore, we have once again "kicked-the-can down the street."  No debt default this week.  That will come later!

Ok, what does this mean for the next fiscal year by way of increase/cutting federal spending?  In very simple language,  federal spending will go up by at least $256 billion (minimum of an 8% increase) while discretionary spending, which has just been approved, will decrease by $23 billion.  Therefore, total federal spending will increase next year by a "net" of least $233 billion.