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Shocker: Senate Passes its First Budget in 4 Years

The Democrat-controlled Senate approved its first budget blueprint in four years early Saturday, a political milestone that capped months of GOP criticism and set the stage for direct negotiations with the Republican-controlled House.

The Senate blueprint calls for nearly $1 trillion in new taxes over the next decade and only modest reductions in projected government spending. While it would replace sharp, automatic spending cuts known as the sequester, it would do little to alter the nation’s financial outlook, permitting the portion of the national debt held by outside investors to swell from nearly $12 trillion today to more than $18 trillion by 2023. . .

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