Only days before the nation would face an imminent default, President Barack Obama and the Democratic Senate reached an agreement with Senate Republicans on the debt ceiling.
This deal was not his preferred choice, said President Obama, but it will "allow us to avoid default and end the crisis Washington imposed on the rest of America," President Obama said in a speech late Sunday evening.
The New York Times reports:
MoreUnder the framework that negotiators were discussing today, half of those cuts would come in defense spending, while the other half would be a combination of other domestic spending, like discretionary programs and farm subsidies. Cuts to Medicare would not make up more than 3 percent of the non-military cuts. While many Republicans are loath to risk such cuts to defense, some of the more Tea Party-influenced freshmen members are less concerned with that than with getting big spending cuts overall while avoiding tax increases at all costs.
2 comments:
Don't you love it that Obama characterizes the deadlock as something Washington imposed on the rest of America? The major culprits in the whole thing are he and his fellow Democrats, so whom does he think he's kidding? Unfortunately, many will believe him.
For Heavens sake who in their right mind believes anything the New York Times spins? Bottom line is if cuts aren't figured out by November by the "super Congress" our Military will be further gutted, and the cuts to Medicare and Medicaid come solely by cutting reimbursments to doctors and Hospitals. We were sold out by both political parties in D.C.
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