It is not unsubstantial. From the Associated Press:
A close look at the government shutdown-dodging agreement to cut federal spending by $38 billion reveals that lawmakers significantly eased the fiscal pain by pruning money left over from previous years, using accounting sleight of hand and going after programs President Barack Obama had targeted anyway.
Such moves permitted Obama to save favorite programs — Pell grants for poor college students, health research and "Race to the Top" aid for public schools, among others — from Republican knives.
And big holes in foreign aid and Environmental Protection Agency accounts were patched in large part. Republicans also gave up politically treacherous cuts to the Agriculture Department's food inspection program.
The full details of Friday's agreement weren't being released until overnight as it was officially submitted to the House. But the picture already emerging is of legislation financed with a lot of one-time savings and cuts that officially "score" as savings to pay for spending elsewhere, but that often have little to no actual impact on the deficit.
As a result of the legerdemain, Obama was able to reverse many of the cuts passed by House Republicans in February when the chamber passed a bill slashing this year's budget by more than $60 billion. In doing so, the White House protected favorites like the Head Start early learning program, while maintaining the maximum Pell grant of $5,550 and funding for Obama's "Race to the Top" initiative that provides grants to better-performing schools.
Still the two DC related riders and the appalling sacrifice of the not-for-profit healthcare centers are hard to swallow. The Pentagon had $2 billion cut from its budget meanwhile the entire $2 billion slated for these non-profit healthcare centers was cut. Recall that these centers were a consolation prize for not including a public option in the Affordable Care Act of 2010.
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