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US Debt Deal Compromise Leaves Many Unhappy | U.S. lawmakers, marketwatch

Nikkei 225 | 15:53 | 0 comments


U.S. lawmakers hope to vote soon on a compromise plan to raise the nation’s borrowing limit in exchange for substantial cuts in government spending. The 11th hour compromise agreed to by President Barack Obama and U.S. congressional leaders prevents the United States from defaulting on its debt. But it also leaves some people on both sides of the political spectrum unhappy with the result.

One of the key players in the congressional debt debate drama was the leader of the Republican minority in the Senate, Mitch McConnell of Kentucky.

It was McConnell who joined forces with President Obama late in the game to forge a bipartisan deal that will cut about $1 trillion over 10 years and will set the stage for additional cuts through a special congressional panel.

McConnell, speaking on the CBS program "Face the Nation", said, “We’ve got a history of robust political debate, but this country has always come together at critical moments and we are at one of those critical moments right now and we are going to come together and we are going to get the job done for the American people.” Read More

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