…and just when Republicans were ready to declare victory.

The first installment of $900 billion is contingent on enacting 10 year caps on annual appropriations which the leadership had hoped would save well over $1 trillion. But CBO late Tuesday came back with a report showing the legislation would reduce deficits by $850 billion when measured against the agency’s most current projections for spending. – CBO: John Boehner’s debt bill comes up short

What will he tell the Tea Party now?