One Trillion Dollar Spending Bill Passes The House

Yes. Trillion with a 'T'. POLITICO:
"Moving with surprising speed, the House gave final approval Friday to a more than $1 trillion budget bill that fills in the blank spaces of the August debt accords and sets a new template for government spending through the 2012 elections.

The giant appropriations bill is remarkable for its reach, covering the heart of the domestic budget, the Pentagon, and foreign aid plus tens of billions more related to the war in Afghanistan. It’s over 1,200 pages were only released Thursday, but debate was compressed and the 296-121 vote never in serious doubt with members eager to go home for the holidays.

In contrast with the burst of stimulus spending at the beginning of President Barack Obama’s first year, the image now is of a government very much retrenching after a year of real cuts that have rolled back domestic appropriations to Bush-era levels when adjusted for inflation.

That translates into a roughly 10 percent cut from spending levels last January when Republicans took over the House, and under the August debt agreement, this will become a new plateau stretching into the future with annual growth pegged below the rate of inflation."
My emphasis.

The media's disappointment is almost palpable. The "looming government shutdown" meme is now dead. At least until next year.