WASHINGTON, DC-For those fearing a repeat of October's events, or for that matter, the continuing uncertainty of operating without a federal budget, hope is in sight. On Tuesday evening, Senate Budget Committee chairman Patty Murray (D-WA) and House Budget Committee chairman Paul Ryan (R-WI) announced a deal that would set spending for two years and replace some of the sequester cuts with other savings.

The deal would require both Democrats and Republicans to sacrifice some sacred cows: Conservative Republicans are irate that the sequester will be undermined, partly, with this agreement. Democrats, for their part, were not able to extend unemployment insurance for the long-term unemployed.

President Obama has indicated he will sign the deal if and when it reaches his desk.

For DC area landlords the fact that there is a budget, never mind its details, after years of operating in the dark is enough to cheer. The budget for the Pentagon and other federal agencies would clock in at $1.012 trillion for fiscal 2014. For the Pentagon that means a $2 billion increase over last year. Domestic agencies would get a $22 billion increase. For fiscal 2015, spending would rise slightly to $1.014 trillion. Some $63 billion in sequester spending would be replaced.

The deal was cobbled together via a mix of spending cuts and non-tax revenues, mainly in the form of higher fees, such as for airline security and federal insurance of pensions, and other methods such as requiring federal workers to contribute more to their pensions.

David Johnson, CEO of Strategic Research, is betting the budget will pass if only for crass political purposes. This Congress has gotten a reputation for being a do-nothing body – not a label one wants to have going into an election year.

Republicans in particular, he tells GlobeSt.com, will pass the legislation even if they have to hold their noses while doing it.

"If they can keep the national dialogue on health care then they will win politically."