U.S. deficits will have to wait as Congress moves on

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Pedestrians walk past the U.S. Capitol building prior to U.S. President Barack Obama's State of the Union address in front of the U.S. Congress, on Capitol Hill in WashingtonBy David Lawder WASHINGTON (Reuters) – Congress just wants the U.S. budget wars to be over. If any more evidence was needed, 12 Republican senators swallowed their principles and voted to propel a "clean" one-year debt limit increase toward passage on Wednesday. As a result, any major deficit reduction efforts are stalled in Washington for at least a year, and perhaps until the next president takes office in 2017. The procedural vote, potentially toxic for some of the senators, would have been considered heresy three years ago, when the Republican Party made deficit reduction its top priority and the debt limit its main lever.

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