Tuesday, August 2, 2011

Politics News & Analysis: White House, congressional leaders reach debt-limit deal


The Washington PostMonday, August 01, 2011
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WASHINGTON, DC - JULY 31: Senate Majority Leader Harry M. Reid (D-Nev.) moves from Nancy Pelosi's office to the Senate chamber at the U.S. Capitol on June 31, 2011, in Washington, DC. With the default deadline just two days away, prospects for a debt-limit deal seemed to significantly brighten early Sunday after the White House entered intense negotiations with Senate Minority Leader Mitch McConnell on Saturday in a last-ditch bid to forge a bipartisan  agreement to raise the federal debt limit. (Photo by Jahi Chikwendiu/The Washington Post)

White House, congressional leaders reach debt-limit deal

Lori Montgomery and Paul Kane

President Obama and congressional leaders sealed a deal to raise the federal debt limit late Sunday that includes sharp spending cuts but no new taxes, breaking a partisan impasse that has driven the nation to the brink of a potentially disastrous government default.

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