Obama Says Congress Approves U.S. Debt-Limit Increase
618 views · Published 1 August 2011 · 2:34 · Indexed 25 September 2026
Channel: Bloomberg Originals · 2011 · Entertainment
Aug. 1 (Bloomberg) -- Congressional leaders, leaving no extra time before a default threatened for tomorrow, are racing to push through a compromise sealed with President Barack Obama last night to raise the U.S. debt limit by at least $2.1 trillion and slash government spending by $2.4 trillion or more.
The House plans votes today and the Senate may follow suit to consider the agreement reached during a weekend of negotiations that capped a months-long struggle between Obama and Republicans over raising the $14.3 trillion debt ceiling. Megan Hughes reports on Bloomberg Television's "First Look." (Source: Bloomberg)
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