Government shutdown is averted, but no one comes off looking very good. The agreement calls for about $39 billion in spending cuts over the remainder of the fiscal year. From the NYT:
Democratic officials said Republicans agreed to drop their demands that funding be stripped from groups that provide abortions. And Democrats also succeeded in preventing Republican efforts to limit the Environmental Protection Agency's regulation of greenhouse gasses. In exchange, Republicans got a larger cut in overall government spending than Democrats had wanted. The Democrats agreed to increase the total amount to be cut in exchange for Republicans accepting cuts in Pentagon spending that had been in Mr. Obama's budget.