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Trump (probably) won’t get another shutdown, after all

On Tuesday, the president of the United States said that he’d “love” to see the federal government shut down should Democrats fail to give him what he wants re: cracking down on illegal immigration. But for once, lawmakers do not seem inclined to oblige him. On Wednesday, Senate leaders announced that they’d reached a bipartisan spending agreement. And not just any spending agreement, but a real deficit-buster that will raise spending caps by roughly $300 billion over the next two years. According to The New York Times, the limit imposed on military spending—by a 2011 deal “once seen as a key triumph for Republicans”—will be increased by $80 billion for the current fiscal year and $85 billion for the next one. Nondefense spending will increase by $63 billion this year and $68 billion next year. And while most Republicans have long since given up pretending to care about “fiscal responsibility,” not everyone is pleased.

Jason Pye, vice president FreedomWorks, told the Times that the deal “isn’t just fiscally irresponsible, it’s an abomination,” adding that “no one in Congress who claims that they’re a deficit hawk or a fiscal conservative can justifiably vote for [it].” Freedom Caucus leader Jim Jordan was practically in tears over the idea that Paul Ryan, whom he thought he could trust, would betray his Ayn Randian ideals in such a heinous fashion. Calling the agreement a “monstrosity,” he fumed to Politico “I just never thought that Speaker Ryan—with his history and his background in budget issues, and his concern with the debt and deficit issue—I just never thought that this would be something that the Congress would put forward.” Freedom Caucus member Mo Brooks likewise told reporters, “I’m not only a no; I’m a hell no,” and basically compared the deal to a narcotic: “This spending bill is a debt junkie’s dream,” he said. “Quite frankly, I’m astonished that the Republican Party seems to be the party of big government in this day and age.”

Nancy Pelosi also said she wouldn’t support the budget, but for reasons that Jordan would sooner spit in his mother’s face than get behind. From the House floor, Pelosi said that without an accompanying commitment from Ryan or Mitch McConnell to debate legislation to protect Dreamers, “[the] package does not have my support, nor does it it have the support of a large number of members of our caucus.”

Area credit rating agency decides to kick Wells Fargo in the throat when it’s already on its knees, coughing up blood . . .

In her last act as Chairman of the Federal Reserve, Janet Yellen delivered the equivalent of a gut-punch to Wells Fargo, responding to “widespread consumer abuses and other compliance breakdowns” at the bank by restricting the San Fransisco lender’s total assets until it proves it’s cleaned up its act. Then on Wednesday, ratings agency S&P Global Ratings decided to get in on the fun: