Yesterday, the U.S. House ... gave a green light to President ... debt ceiling agreement... Today, the Senate will most likely confirm the deal.
However, the general opinion is that the deal merely helps the U.S. avoid default (which would have happened today if the agreement had not been reached) as it does not tackle the main causes of the U.S. budget deficit, namely programs in the like of Medicare. What is more, most of the cuts are not coming until 2016. [emphasis added]
Another reason to dislike that bill. I know that I said I was "moving on", but this little tidbit was too good to pass up.
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