You may have heard: President Obama and Congressional leaders reached an agreement that would reduce future budget deficits and raise the limit on the public debt. For a very good summary of what it means, check out the Congressional Budget Office blog's recap HERE.

But if you look closer, you'll find some terrifying potential outcomes in the weeds of the deal. For instance, the deal could pit defense spending against the budgets of the DOE, EPA and incentives for clean energy production, GOP strategist Mike McKenna tells Politico.

The cuts will be decided by a bipartisan committee but keep in mind many programs to protect the environment and fund green energy are in the crosshairs of the GOP.

They’ve set up a structure in which the Republicans are going to have maximum incentive to blow up loopholes and credits because the other choice is to cut defense,” said McKenna. “So this is where all the mayhem on energy tax credits is going to get done.”

This, he said, could include wind, solar and other renewable energy production and investment tax incentives.

Fortunately, tax incentives for oil and gas companies could be trimmed but you expect an outcry from those who pay for their influence over Congress. It is also anticipated the EPA will become shrunken with many cuts on the way.

Other potential cuts:

-Wastewater treatment

-Protection for drinking water

-Air pollution monitoring

-Biofuels R&D

-DOE programs "dealing with fuel cells, biofuels, synthetic fuels, wind and nuclear power"

- "Army Corps of Engineer dredging, sea wall barriers and flood mitigation"

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