Content Section
Compromise Obama:  We Have Reached a Debt Deal Carolyn Kaster / AP Photo

Obama: We Have Reached a Debt Deal

President Obama announced Sunday night that a compromise had been reached on the debt deal. The proposed deal will cut $3 trillion in spending over 10 years, and he also said it will have “modest adjustments” to spending programs such as Medicare. “From the beginning, I said the ultimate solution had to balance,” Obama said. “But we’re not done yet,” he said, possibly alluding to the ambivalence that House Democrats have shown toward the plan. The Senate’s approval seemed all but assured Sunday night.

July 31, 2011 8:50 PM