The big news in Washington last night was that Rep. Paul Ryan, the Republican Chairman of the House Budget Committee, announced a not-so-grand bargain budget deal with Sen. Patty Murray, the top Democrat on the Senate Budget Committee.
Spending goes up a bit. The deficit goes down a bit less. There are offsetting fee increases and targeted cuts in spending. The deal would send more money to the Pentagon, and avert another (partial) federal shutdown when the current continuing resolution to fund the government expires—that is, if it eventually passes.
Republicans on the Hill are still familiarizing themselves with the details, and they'll no doubt find more than a few elements they dislike. But they may learn to live with it anyway. As I heard one GOP legislator describe it shortly after the announcement, the deal is simulataneously not so great and likely the best deal that Republicans can get.
Judge for yourself; read the details after the jump.