President Barack Obama said Sunday night that he and Congressional leaders had reached a debt deal that cuts trillions in federal spending. The debt ceiling plan was set to face a vote on Monday in hopes of enacting it before a Tuesday deadline, thus averting default, The New York Times reported.
After weeks of negotiations, President Obama and Congress finally came to an agreement regarding the United States budget. I understand that getting the budget right is an important task for our government, but toeing the line with an impending government shutdown seems a little risky. The collateral damage that would occur if the government actually shut down would cause tremendous economic pain when a lot of Americans are already feeling the pressures of a less than stellar economy. Thankfully the government will not be shut down - this time.
Watch President Obama's Weekly Address with his thoughts regarding the budget compromise.
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