Sunday, July 31, 2011

Senators Hold Out Hope for Debt Measure Compromise

Kent Hoover

For once in the long debate on lifting the nation's debt ceiling, Democrats and Republicans are talking about progress finding a compromise. The Senate is expected to vote on a measure Sunday that would lift the ceiling while calling for $3 trillion in cuts over the next 10 years. Senate Majority Leader Mitch McConnell said today that Congress and the White House are “very close” to a deal that would raise the debt ceiling and avoid a possible government default on Tuesday.
On CNN”s State of the Union program this morning, the Kentucky Republican said GOP leaders and the White House have “made dramatic progress” toward agreeing on a deal that would reduce the federal deficit by $3 trillion over the next 10 years. In return, the debt ceiling would be raised.
Saturday night, Senate Majority Leader Harry Reid, a Nevada Democrat, postponed a scheduled 1 a.m. Sunday vote on his debt reduction plan. Another vote on the Reid measure had . . . . .

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