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Obama announces deal reached to end debt crisis
Source: Agencies |
August 1, 2011, Monday
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Online Edition
Online Edition
UNITED States President Barack Obama announced today that Democrats and Republicans leaders have reached an agreement to reduce the US deficit and avoid default.
Obama said the agreement will cut about US$1 trillion over 10 years.
Obama said spending cuts included in deal to raise the debt ceiling will not happen so quickly that they will drag on the fragile US economy.
In a brief statement, Obama said he would make a detailed case over the next few months for a blanched approach to deficit reduction.
Obama said the agreement will cut about US$1 trillion over 10 years.
Obama said spending cuts included in deal to raise the debt ceiling will not happen so quickly that they will drag on the fragile US economy.
In a brief statement, Obama said he would make a detailed case over the next few months for a blanched approach to deficit reduction.
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