Wednesday, August 3, 2011

Debt Ceiling Plan Clears Both Houses of Congress



VOAVideo: Debt Ceiling Plan Clears Both Houses of Congress

Voting on a deficit reduction plan is over in the U.S. Congress. Legislation raising the debt ceiling and cutting spending passed the U.S. House of Representatives Monday night and the U.S. Senate Tuesday, just in time for the August 2 deadline. On that day, economists had warned the U.S. would no longer be able to service its debt payments. Meantime, global market analysts seem to be several paces ahead, pondering how far the agreement goes in saving a weak U.S. economy. VOA's Laurel Bowman explores.

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