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Read the Debt Ceiling Bill and Watch Obama on Compromise

Monday, August 01, 2011

The Senate is expected to take up the agreement reached between President Obama and Congressional leaders on Monday, follwed by the House. The compromise, which raises the debt ceiling and promises more than $2 trillion in spending cuts, was reached late on Sunday. Read the text of the bill under lawmakers' consideration and watch a statement by President Obama on the debt agreement.

Read the entire bill:

The New New New New Debt Deal

 

Watch Obama's address on the compromise:


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Comments [1]

Jack Jackson from Central New Jersey

A. The recession is "over" so the don't tax hike during a recession argument is toast.
B. The recovery is weak but there is little hiring going on. This is due to a lack of demand, not supply. So raising taxes on those who do not stimulate demand is the smarter thing to do.
C. The deficit was caused by unbalanced GOP spending - Tax cuts without program cuts; two wars without taxes to pay for them and prescription drug program increases without revenue to pay for it. Why should we trust the guys who got us here to get us out?
D. The economic overstimulation caused a bubble which popped and drove the economy into recession. The countercyclical spending to ease the Great Recession is the source of Obama's deficits. The cost Affordable Health Care Act doesn't really enter in yet since it won't take full effect until 2014.

Aug. 01 2011 11:47 AM

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