US president signs a two-year budget bill
(VOVworld) - US President Barack Obama has signed a two-year federal budget bill and a National Defense Authorization Act for fiscal 2014. The bill, passed by both the Senate and the House of Representatives earlier this month, sets spending levels for the federal governmental slightly above 1 trillion US dollars for each of the next two fiscal years.
The US can avoid another federal government shutdown with an annual increase of 63 billion USD in its budget from now until October 2015. This budget plan has temporarily ended the pro-longed wrangling over spending, budget deficits, and taxes over the past 3 years. At the center of the political friction has been the President’s healthcare reform package, popularly known as Obamacare.