The reining in the US budget is not going to happen under either...

The reining in the US budget is not going to happen under either party - the projected budget this year to 30 September has been revised upwards from $1.4tr to a bit over $1.9tr or 7% of GDP - this was a recent update from a few months ago (February I think) and it would have been $2tr but for a timing difference in payments. Note the Fed government debt goes up by more than then budget deficit - I forget the reason.