We have a debt ceiling deal.

And the deal is there is functionally no debt ceiling until January 2025.

When this drama all started back in January, I called it "a fake debt ceiling fight."

Well, the fake debt ceiling fight got us some fake spending cuts!

In effect, the US government can borrow an unlimited amount of money until after the next presidential election.

The plan also includes "spending cuts." Here's how the New York Times explained it.