President Obama Signs Two-Year Budget Deal

A bipartisan budget deal that lasts until the next President is in office is signed into law.

FOX News’ Jon Decker reports from the White House:

In a brief signing ceremony in the Oval Office, the President signed into a law a two-year budget blueprint passed by Congress last week that also suspends the debt limit until March 2017.

(President Obama) “By locking in two years of funding, it should finally free us from the cycle of shutdown threats and last minute fixes. It allows us to therefore plan for the future.”

Under the two-year budget plan, spending will increase for both defense and domestic programs.

The President said that lawmakers would still need to pass spending bills, but said he was confident they could get them done on time.

At the White House, Jon Decker, FOX News.