BREAKING: Trump announces bipartisan deal on the budget and debt ceiling! [UPDATED WITH DETAILS]

This is just breaking on Twitter now, with President Trump announcing a bipartisan deal between McConnell, Schumer, and Pelosi on the budget and debt ceiling:

Trump says this is a real compromise, but on whose part? Typically anytime we see the word compromise, it means the GOP has given nearly everything away. And with McConnell and McCarthy on Trump’s side, that doesn’t give me confidence that this is a good deal.

I’m sure more details will drop on this soon and I’ll update with them when I get it. But seriously, don’t get your hopes up for a good deal because nothing about this sounds like something we’re going to love.

UPDATE: Here’s more via the NY Times:

White House and congressional negotiators reached accord on a two-year budget on Monday that would raise spending caps and lift the government’s debt ceiling, likely averting a fiscal crisis but splashing still more red ink on an already surging deficit.

The agreement, struck by Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin, would raise spending by $320 billion, compared to the strict spending levels established in the 2011 Budget Control Act and set to go into effect next year without legislative action. Spending on domestic and military programs would increase equally, a key demand of Ms. Pelosi, offset by about $75 billion in spending cuts, far lower than the $150 billion in cuts that some White House officials initially demanded.

The deal would lift the debt ceiling high enough to allow the government to keep borrowing for two more years, punting the next showdown past the 2020 elections. The negotiators hope to enact the accord before Congress leaves for its August recess.

Mr. Trump’s final approval is not certain, but the president said he was pleased with the added military spending. He made no mention of the mounting deficits that he and Republicans once railed against.

More spending. Higher debt ceilings. Yep.

UPDATE: If it’s any consolation, Democrats aren’t happy with Pelosi on this one either:

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