gazoomartian
Prime Minister (20k+ posts)
Gazoo Notes: Free Masons would never let US go down. A lot at stakes. The dhakosla is over.
Now FM will get busy creating another war so US borrows and goes back to square one.
This is just off the bbcnews.com
US President Barack Obama says Republican and Democratic leaders have reached an agreement on raising the US debt limit and avoiding default.
He said the deal would cut $1tn of spending over 10 years, and set up a committee to report by November on a proposal to further reduce the deficit.
But Congress still has to approve the deal, and no votes are expected until Monday at the earliest.
The parties face a Tuesday deadline to raise the $14.3tn debt limit.
"I want to announce that the leaders of both parties in both chambers have reached an agreement that will reduce the deficit and avoid default, a default that would have had a devastating effect on our economy," Mr Obama said.
The US president said it was not the deal he would have preferred, but noted that the compromise plan would make a "serious downpayment" on the US deficit.
Democrats and Republicans in Washington have been deadlocked over finding a plan on how to cut spending and raise the debt limit as the Tuesday deadline approaches.
America limits by law the total amount of debt its government can run up in order to pay its bills, and the Obama administration has been under mounting financial pressure.
Mr Obama said the process had been messy and had taken "far too long".
He called on parties to support the plan in votes in Congress.
Republican House leader John Boehner said he hoped to hold the vote "as soon as possible".
"This isn't the greatest deal in the world. But it shows how much we've changed the terms of the debate in this town," he added.
Mr Obama stressed that any solution had to be balanced.
The recommendations of the bipartisan committee tasked with identifying further savings by November would also be put to a vote in Congress, he said.
Now FM will get busy creating another war so US borrows and goes back to square one.
This is just off the bbcnews.com
US President Barack Obama says Republican and Democratic leaders have reached an agreement on raising the US debt limit and avoiding default.
He said the deal would cut $1tn of spending over 10 years, and set up a committee to report by November on a proposal to further reduce the deficit.
But Congress still has to approve the deal, and no votes are expected until Monday at the earliest.
The parties face a Tuesday deadline to raise the $14.3tn debt limit.
"I want to announce that the leaders of both parties in both chambers have reached an agreement that will reduce the deficit and avoid default, a default that would have had a devastating effect on our economy," Mr Obama said.
The US president said it was not the deal he would have preferred, but noted that the compromise plan would make a "serious downpayment" on the US deficit.
Democrats and Republicans in Washington have been deadlocked over finding a plan on how to cut spending and raise the debt limit as the Tuesday deadline approaches.
America limits by law the total amount of debt its government can run up in order to pay its bills, and the Obama administration has been under mounting financial pressure.
Mr Obama said the process had been messy and had taken "far too long".
He called on parties to support the plan in votes in Congress.
Republican House leader John Boehner said he hoped to hold the vote "as soon as possible".
"This isn't the greatest deal in the world. But it shows how much we've changed the terms of the debate in this town," he added.
Mr Obama stressed that any solution had to be balanced.
The recommendations of the bipartisan committee tasked with identifying further savings by November would also be put to a vote in Congress, he said.
