With Clock Ticking, Debt-Deal Moves Toward Finish
A Senate vote on the package is set for today. The deal itself has left both liberals and conservatives unhappy but clarified both parties' priorities. For Democrats, it was protecting Medicaid and Social Security. For Republicans, preventing tax increases.
The Washington Post: House Passes Historic Debt Deal On Eve Of Deadline
The Senate vote is set for noon Tuesday. Approval would send the measure to President Obama and immediately grant the Treasury $400 billion in additional borrowing authority, just hours before a midnight deadline (Kane and Montgomery, 8/1).
The Wall Street Journal: Uneasy House OK's Debt Deal
Both liberals and conservatives were upset by parts of the deal. Democratic and Republican party leaders spent Monday trying to get them on board (Bendavid and McKinnon, 8/2).
Los Angeles Times: Debt Ceiling Deal Accomplishes Little
High-stakes negotiations force people to reveal what they really care about, and in the 11th-hour deal to stave off a federal financial default, President Obama and congressional Democrats and Republicans each made clear their top priorities. For Republicans, it was preventing any tax increase to upper-income families. For Democrats, it was ensuring no cuts to Social Security, Medicaid and a handful of other programs that aid the elderly and the poor (Lauter, 8/1).