Waiting For A Vote

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Monday, August 1, 2011 - 3:14pm

Congress considers new debt ceiling deal.

The debt ceiling deal has lots of luke warm support and lots of angry opposition.

Can Speaker John Boehner get enough republicans to say yes to the debt ceiling deal?

Many in the Tea Party will vote no.

Some liberal House Democrats will vote against the plan as well.

The compromise plan would cut about one trillion in spending right away and form a new bipartisan super committee to find another $1.5 trillion in savings by November.

If Congress fails to act on those recommendations this year broad spending cuts are triggered.

No follow-up deal by December would mean cuts in defense spending, opposed by conservatives and cuts in social programs opposed by liberals.

Both sides are still scrambling for support.

After the House votes Monday evening the Senate could follow quickly.

Midnight tomorrow is still the deadline to avoid default.
 

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