Debt Ceiling Agreement Reached

By: The Associated Press
By: The Associated Press

Both the Republican and Democratic leaders of
the Senate are throwing their weight behind a debt-limit agreement
sealed with President Barack Obama and top leaders of Congress.
Democratic Majority Leader Harry Reid said that both his party
and opposition Republicans gave more ground than they wanted to. He
said it'll take members of both political parties to pass the
measure.
Minority Leader Mitch McConnell said that the pact "will ensure
significant cuts in Washington spending" and he assured the
markets that a first-ever default on U.S. obligations won't occur.
Both the leaders said they will brief their colleagues tomorrow
on the details of the agreement.


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  • by Don Location: Lauderdale on Aug 1, 2011 at 07:21 AM
    What a bunch of lies they are telling us from both sides. I agree that corporations should be taxed more but I know that all they do is raise the price of whatever they are selling to make up the difference. Why are we borrowing money to operate, the taxes we have now should be enough. Our government needs to learn to operate on what they have without raising taxes on anyone. We need to cut the spending especially when the tax revenue has dropped.
  • by Peabody Location: Valley Road on Aug 1, 2011 at 12:46 AM
    Is it suppose to make me feel good that now we can be insured of getting deeper in debt to China? Sad to say that when we can get a vote to borrow more and get deeper in debt is a good thing. Hate to say it but our drug dealing high school dropouts have more money sence than the people in Wasington.
    • reply
      by PTD on Aug 4, 2011 at 03:02 AM in reply to Peabody
      The debt ceiling had nothing to do with getting us deeper into debt. Those were lies put out by the tea party hobbits. It was about our country not defaulting on what our politicians have borrowed over the past 30 years to finance us into the hole our countrys in now. Sort of like the folks who take out every credit card they can and live beyond their means by only paying the interest when its due. Yeah, its a bad thing. Both parties need to get it together and cut spending BUT that has nothing to do with paying the bill our leaders have ALREADY MADE over the years. The military is the 1st obvious choice to cut. Not the forces but the silly advanced weapons that are so difficult to maintain and fly that they cant even keep them in the air (the secret helicopter in the bin ladin fiasco for one, the one that crashed and we left for the locals to reverse engineer for their own use). Next time you read about a missile attack on radicals in the middle east, count the missiles the story says we fired and do the math, they cost between 1-2 million dollars each. Our enemy there does the same damage with a couple $5 pipe bombs. I was just reading about some new helicopter the military wants funded. $300 million dollars EACH. And WHY? Its not keeping up with the jones because NO OTHER COUNTRY has such extravagant weapons. NONE. We dont have to worry about being 1 upped by other countries because other countries stick with the tried and true weapons that weve already paid to develop.
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