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How Likely is a US Budget Deal?

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Congressional Republicans and White House officials are increasingly skeptical that they’ll reach a long-term budget agreement with Democrats in the next 11 days, accusing progressives of slow-walking a spending deal until they get what they want on immigration.Party leaders from both sides of the aisle have been quietly working to raise stiff spending caps to avert a government shutdown before Jan. 19, when federal agency funding runs dry.But Republicans claim Democrats won’t back a long-term spending plan until Congress agrees to shield hundreds of thousands of young undocumented immigrants from deportation. The Obama-era Deferred Action for Childhood Arrivals program, which gave safe harbor to “Dreamers,” formally ends March 5, although some immigrants have already started losing their protections.

Source: Republicans: Budget deal prospects are dimming – POLITICO

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This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.
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