It came down to the 11th hour, but late last night, President Obama announced a deal had been struck to raise the federal government’s borrowing limit.

But before agencies could take a sigh of relief, they were hit with some bad news — budget cuts.

Maya MacGunieas, president of the Committee for a Responsible Federal Budget and the director of the Fiscal Policy Program at the New America Foundation, explains what kinds of cuts agencies may expect.

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