Don't Get Too Excited About the Budget Deal

If Congress can pass the spending bill it has negotiated, it will succeed in avoiding another costly and embarrassing shutdown. However, as CFR Adjunct Fellow Peter Orszag explains in a new column for Bloomberg View, that doesn't mean it's good policy. The "CRomnibus," as it is colloquially referred to, continues to cut discretionary spending to the bone, but Congress makes no effort to evaluate where cuts can be made without doing further damage to the economy.