President Barack Obama has announced the agreement made with the Republican congressional leaders about the compromise made between the two to avoid the nation’s first financial default. This new deal is going to cut over $2 trillion from the federal spending over a decade. Having this type of default on the nation would have had one of the most devastating effects on our economy.
They are giving lawmakers the time to review the package and the deal that they have came up with. Both parties have been on board with this agreement in order to make the country a better place overall. All votes are expected to be in through Congress on Monday. All the votes are going to be round up. They do not think this is the greatest deal in the world, but they think that it will help the country out in the end. This agreement means that there is going to be the lowest amount of domestic spending that there was since Dwight Eisenhower was in office.
It seems that the two sides disagree on almost everything that is brought up. In the end however, a lot of people should agree on what we made an agreement on this time. Those reasonable people should also be in agreement with this. The United States cannot take a chance when it comes to defaulting on the debt, this could risk the United States financial collapse and could mean a world-wide depression for everyone involved.