'The Biggest Annual Spending Cut in History'? — President Obama on Budget Compromise

I'll try to do a fact-check later, but the biggest annual spending cut in real terms, as a percent of the deficit, as a percent of GDP, or what? I don't trust Obama. He lies. So I'll update with more on this later.

Meanwhile, Ace of Spades has been hawkish on the budget, so scroll down there for some good stuff. And Pat in Shreveport has some pros and cons, "Slaying the Budget Beast."

RELATED: The Other McCain has a big roundup from last night, "REPORT: Deal Struck, Averts Shutdown (Insert ’30 Pieces of Silver’ Joke Here)." And this sounds about right, at Washington Post, "Budget fight shows Washington still broken" (via Memeorandum).