from Renewing America

U.S. Budget Deal: A Needed Step

December 11, 2013

Blog Post
Blog posts represent the views of CFR fellows and staff and not those of CFR, which takes no institutional positions.

While the new budget deal isn’t a grand bargain, it is a necessary first step, writes CFR’s Robert Kahn on his blog “Macro and Markets.” The deal won’t dramatically reshape spending over the next two years, but it will restore a sense of sanity to U.S. fiscal policy. Additionally, Democrats and Republicans both crossed former red lines, giving a sense of where the budget debate may head in the coming year.