US economy dodges the threat of painful spending cuts
WASHINGTON (AP) — The budget agreement that congressional leaders and President Donald Trump forged late Monday lifted a big potential drag on the U.S. economy for this year and next.
Under the agreement, the economy was spared from a series of deep spending cuts that were set to take effect under a far-reaching budget law enacted in 2011. Monday’s agreement nullified those cuts and increased spending by $320 billion over two years.
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