Congress just released the conference report on its joint Budget resolution. The House may take it up as soon as today and the Senate will follow suit Wednesday, on the 100th day of the Obama presidency. We’ve just begun to read through it for any gems – it’s relatively short at 174 pages. 

As released it isn’t electronically searchable, but we've made it searchable here: 

One thing that jumps out immediately is the 34 “deficit neutral reserve funds.” We’ve criticized these in the past as just one example of how Congress plays games with spending money on programs it doesn’t really know how to—or simply won’t—pay for.   To be sure, reserve funds have been used and abused by both parties. But this budget in particular seems to take it to another level. Let us know if you have any questions, and we’ll keep you in the loop as we digest this document.