Have They Cut A Deal?

A possible bargain to raise the national debt ceiling may be taking root. Lawmakers and the White House paused their daily negotiations so Congressman could go back to the Hill and gage the mood of their members. That as a fallback option begins to take shape in the Senate. A plan from Senator Mitch McConnell and Majority leader Harry Reid would give the President authority to raise the debt ceiling while setting procedures in motion to vote on federal spending cuts. The plan could also include immediate spending cuts already agreed upon by White House and congressional negotiators. They have until Aug. 2nd to reach and agreement and avoid a possible government default.