(PHOTO CREDIT: NICHOLAS KAMM/AFP/Getty Images) FROM CNN's Jack Cafferty: It was close, but less than two hours before the federal government was set to shut down Friday night, Republicans and Democrats came to an agreement on $38.5 billion in spending cuts to the 2011 fiscal budget. All the expected self-congratulatory back-patting and smiles accompanied the … Continue reading Threat of govt shutdown cut $38B: How will serious deficit reduction ever be accomplished?