Wall Street Journal - WASHINGTON—After weeks of partisan wrangling, President Barack Obama and congressional leaders reached a deal Sunday night to raise the government's debt ceiling while cutting spending by about $2.4 trillion, avoiding a government default but setting the stage for months more of stormy debates over how Washington taxes and spends. President Barack Obama and the bipartisan leadership of Congress reached a deal to lift the ceiling on the federal debt and reduce future budget deficit just days before a default deadline.
WSJ's Peter Stein and Economics Editor David Wessel discuss the details. The Senate and House are expected to vote on the deal Monday, so the agreement still needs the support of many House Republicans, who have proven a restless, independent group in recent days. But if it passes both chambers, it culminates an extraordinary display of political and economic brinksmanship, coming just days before the government could have been unable to fully pay its bills. Read full story here: News New Mexico
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