Here is essential news for all those engaged in economic relations: the world’s leading economy has got the key financial document. Even though the dust settled after the temporary government shutdown, the budget compromise between the two parties remained questionable. Despite the concerns, the Republicans and Democrats managed to hammer out a budget agreement, so America can breathe freely as there is no longer a threat of another government blackout expected in January 2014. President Barack Obama signed the long-awaited two-year bipartisan budget deal that was approved at all the levels. The budget 2014 appears to be far tighter than in the previous years. It includes $85 billion of total savings and $23 billion in net deficit reduction. The U.S. policymakers favour austerity: certain benefits are no longer paid, so 1.3 million Americans lost long-term unemployment benefits. Political analysts doubt if the budget agreement is a start of new peaceful era for the two parties and take it rather as another consensus that is to help Washington gain time.
"Nothing is written in stone around here," said Sen. Carl Levin, chairman of the Senate Armed Services Committee. "This is a budget. A budget could be amended next year."
By the way, Barack Obama signed the document right while vacationing in Hawaii.
As experts say, 2013 was the hardest year of his presidency, as the country was torn apart by debates over several crucial issues: the health care reform, immigration policy change, and gun reform.
