10 things you need to know today: December 11, 2013

Congress reaches a two-year budget deal, Mary Barra becomes the first woman to run GM, and more

Budget deal
(Image credit: (AP Photo/J. Scott Applewhite))

1. Congressional negotiators reach a budget deal

House and Senate budget negotiators agreed Tuesday to raise military and domestic spending over two years and shift the burden of across-the-board cuts to other programs. The two-year deal eliminates $65 billion in spending cuts under the sequester, while saving $25 billion by extending 2 percent cuts in Medicare by an extra two years. Sen. Patty Murray (D-Wash.) said the pact would prevent a government shutdown in January. [New York Times]

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.