A Deal Has Been Reached in the US Debt Situation

Time To Buy · Jul 31, 2011

Quoted from Yahoo-

WASHINGTON (AP) â€” Ending a perilous stalemate, President Barack Obama announced agreement Sunday night with Republican congressional leaders on a compromise to avoid the nation's first-ever financial default. The deal would cut more than $2 trillion from federal spending over a decade.
Default "would have had a devastating effect on our economy," Obama said at the White House, relaying the news to the American people and financial markets around the world. He thanked the leaders of both parties.
House Speaker John Boehner telephoned Obama at mid-evening to say the agreement had been struck, officials said.
No votes were expected in either house of Congress until Monday at the earliest, to give rank-and-file lawmakers time to review the package.
But leaders in both parties were already beginning the work of rounding up votes.
In a conference call with his rank and file, Boehner said the agreement "isn't the greatest deal in the world, but it shows how much we've changed the terms of the debate in this town."
Obama underscored that point. He said that, if enacted, the agreement would mean "the lowest level of domestic spending since Dwight Eisenhower was president" more than a half century ago.
Senate Democratic leader Harry Reid provided the first word of the agreement.
"Sometimes it seems our two sides disagree on almost everything," he said. "But in the end, reasonable people were able to agree on this: The United States could not take the chance of defaulting on our debt, risking a United States financial collapse and a world-wide depression."
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I'm glad that a deal has finally been made, however I'd like to read where the cuts will be. It's sad that it took this long for the two parties to finally come up with an agreement, the situation should have never gone this far.

nirvanablue92 · Jul 31, 2011

The government is BS, they are both in the same bro.

JohnK · Aug 1, 2011

Whether it is followed through with is another thing.

Tckr · Aug 1, 2011

It's just a delay so the country doesn't go into another recession. They are going to take another look at it and have a better plan in a few months.

Delta Squad · Aug 1, 2011

in all honesty * now i don't really pay attention to gov much* But way it seems to me is they take the Republican/ democrat roles, like Gangs do.

They don't care whats best, as long as they keep the other side "Gang" From getting their way.

how i see it anyways.. they never want to give the other side what they want even if its for the best.

/shrug I'm not affected by this....YET

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A Deal Has Been Reached in the US Debt Situation

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A Deal Has Been Reached in the US Debt Situation

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Time To Buy <3 Champ, Ryan, Trip, Beev, Stui, Yaroow, Semper, Pk, BSGP, FT, Poker, and ALL of Spam Forum

nirvanablue92 Member

JohnK A$AP

Tckr Grand Master

Delta Squad Don't mind me, just getting my postcount up.