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Obama Signs Bipartisan Budget Easing $63 Billion in Cuts

Bloomberg (12/27/13) Derek Wallbank; Roger Runningen

President Obama has signed into law a bipartisan federal budget worth $1.01 trillion, which eases $63 billion in spending cuts for the next two years. The budget also is expected to reduce the federal government’s deficit by $23 billion over 10 years. While the budget establishes spending priorities, lawmakers still must negotiate how the money is spent by various agencies.