The Republicans gave in to raising the debt ceiling, but only for three months worth. They want to attach a bunch of nonsense to it about passing a budget as if the House is able to do that. The Ryan budget that they've passed twice is just crap, and they aren't likely to pass one unless the same Republican block that voted with Pelosi and the Dems on the Fiscal Cliff will cross the aisle again. Since an actual budget isn't necessary to pass out money to their cronies, don't hold your breath.
This does mean however that Obama continues to have the upper hand, this is a solid victory. The Republicans will continue to cast about for some reason to impeach him but they're not likely to find one. So we can probably forward to this nonsense every few months, or maybe they will just give up. What's happening now is good to the extent that it does give Democrats something to campaign on. Perhaps President Warren will have a solid majority to work on getting real reform.