reached. the threat to send washington and wall street into a fiscal tail spin. president trump tweeted that all four leaders signed off on the deal adding this is a real compromise giving a great victory to the military and the feds. a fear that rocking the stock market led to this deal. it was on a delayed flight from detroit where pelosi negotiated the final points. if the deal is passed, it would suspend the debt ceiling until 1k3wru8 1st, 2021 and, get this, in total this agreement blocks in a $1.3 trillion budget deal which includes 320 billion in additional spending over the course of the next two years. it ends up totaling 77 billion, half of it. trillion dollar deficits. that is where we are.
but it locks in trillion dollar deficits as far as the eye can see. we re on pace to spend $4.4 trillion this year, bring in $3.4 trillion in revenue. that s a trillion dollar gap. by agreeing to more spending in the next two years, they re all accepting that s going to be the status quo going forward, which is a big change from what republicans had advocated for during the obama administration. i want to come back to that in just a second. the president s tweet says it s a compromise. it doesn t say yay, it doesn t say republicans vote for it. we know his own, now his acting chief of staff, former budget director, some of the freedom caucus guys in congress don t like this. is there any chance the president will see negative reaction and back away? maybe. and a tweet is not a signature. we ve come really close to the president not signing a spending bill to have the defense secretary when it was james mattis to come to the president and say you need to sign this because we need th
red ink. no one is looking at the fundamental feature of our deficit budget and theng that next decade. 11 trillion of that is coming from social security, medicare and medicaid. so how did republicans respond? they say, we will just talk on another entitlement in the form of a paid family leave program to social security. so i just think the whole tea party promise, republicans have shown that they are deeply furious about spending your money. we are looking at trillion dollar deficits, and next year likely the year after that. this president has been bashing the administration for regulating debt. it does seem like a bipartisan
restraints that we would like to get but i must say, in the difficult atmosphere today, one of the key things in this administration, we got a two-year extension on the debt limit so there is no threat to our credit standing and by the way, in terms of the overall budget numbers, they are really manageable. well, fine, chip. this is washington speak, write question mike this is what you hear constantly in this town. the sense of self-reliance and the sense of character of the nation, that s what is at stake when we are trying them all wrapping up this kind of debt for our children and grandchildren pair there is no justification for spending the kind of money when we are running trillion dollar deficits. as people, regular cruise citizens out there in america, all you see is gridlock. no one can agree on anything but then all of a sudden it s like oh, well suddenly we have an agreement and the agreement is to spend a lot more taxpayer dollars and goals sides a shake hands and say
escalated tensions in the middle east. russia is an ally with iran. russia s been deeply involved in our elections, trying to destroy our democracy, so, of course, they re partnering with iran now. i m sure they are in some way, shape, or form behind what s going on here. they want to try to destroy us. you have john bolton there. so escalating tensions, we re running trillion dollar deficits, so now get us engaged in something that will hurt the global economy, destabilize the region and further get americans involved in something we don t necessarily want to be involved in. this is completely reckless but most importantly was preventible. do you think would you try to put us back in this deal? would that be one way would you deal with it? i would most certainly try to get us back into the iranian deal. it was a good deal. it was a good deal. it was prevechbting iran from having nuclear weapons. now we re going to have a nuclear weapon race in the middle east between saudi arabia