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
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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