After a marathon Congressional dick-measuring contest the likes of which Washington has rarely seen, President Obama has announced that a budget deal has at last been reached. It would both cut $1 trillion in government spending over the next decade, as well as raise the borrowing limit, aka the "debt ceiling," in time to avoid a dreaded default and all of its apocalyptic implications. The proposal goes to both sides' caucuses tomorrow morning for a vote before Tuesday's deadline. I just love a happy ending! Unless, of course, it doesn't get voted through — in which case, maybe there was more to that old coot Harold Camping's rescheduled doomsday prognosis than we were willing to admit. [NYT, President's speech via AP]