Quote:WASHINGTON (AP) — Ending a perilous stalemate, President Barack Obama announced agreement Sunday night with Republican congressional leaders on a compromise to avoid the nation's first-ever financial default. The deal would cut more than $2 trillion from federal spending over a decade.

Default "would have had a devastating effect on our economy," Obama said at the White House, relaying the news to the American people and financial markets around the world. He thanked the leaders of both parties.

House Speaker John Boehner telephoned Obama at mid-evening to say the agreement had been struck, officials said.

No votes were expected in either house of Congress until Monday at the earliest, to give rank-and-file lawmakers time to review the package.

But leaders in both parties were already beginning the work of rounding up votes.

In a conference call with his rank and file, Boehner said the agreement "isn't the greatest deal in the world, but it shows how much we've changed the terms of the debate in this town."

Obama underscored that point. He said that, if enacted, the agreement would mean "the lowest level of domestic spending since Dwight Eisenhower was president" more than a half century ago.

Senate Democratic leader Harry Reid provided the first word of the agreement.

"Sometimes it seems our two sides disagree on almost everything," he said. "But in the end, reasonable people were able to agree on this: The United States could not take the chance of defaulting on our debt, risking a United States financial collapse and a world-wide depression."

Devil Wrote:Still it's scandalous that some republicans tried to keep the tax cuts for billionaires out of this, while the future of a nation was at stake...

I mean... comon, it's your nation's future we're talking about here... :f6:

Devil Wrote:Still it's scandalous that some republicans tried to keep the tax cuts for billionaires out of this, while the future of a nation was at stake...

I mean... comon, it's your nation's future we're talking about here... :f6:

Rick Wrote:This would have ended much sooner if people didn't vote Republican.

Rick Wrote:This would have ended much sooner if people didn't vote Republican.

GMSInfighter Wrote:I was watching a news segment the other day where they interviewed some Republican Strategist and she was claiming that President Obama has added double to the debt than what Bush had in his terms..

I almost puked in confusion.

Moonlapse Wrote:

Tristan Wrote:o-o

John Boehner got by school very well, I'm sure, with that last name.

And umm... about obama and the devastating the economy thing. Can it really get any worse?

Moonlapse Wrote:Rest assured I hope that anyone who votes against for this bill gets thrown out of office.

Rick Wrote:This would have ended much sooner if people didn't vote Republican.

Devil Wrote:Still it's scandalous that some republicans tried to keep the tax cuts for billionaires out of this, while the future of a nation was at stake...

I mean... comon, it's your nation's future we're talking about here... :f6:

holyforest Wrote:Look at this little pearl of wisdom from President Dwight D. Eisenhower in a letter to his brother Edgar on November 8, 1954:

"Should any political party attempt to abolish social security, unemployment insurance, and eliminate labor laws and farm programs, you would not hear of that party again in our political history. There is a tiny splinter group, of course, that believes you can do these things. Among them are H. L. Hunt (you possibly know his background), a few other Texas oil millionaires, and an occasional politician or business man from other areas. Their number is negligible and they are stupid."

Gosh, this quote is amazing.

Sarah Wrote:That is a good quote but their number is no longer negligible. Especially since some idiots in your country felt it was a GOOD IDEA to elect tea party members and now they are standing in the way of any progress even more then true republicans like McCain. They don't have anything to lose so there's no reason for them to stand down.

Hopefully people will see the tea party for what it is (just a bunch of fucking psychos) and won't elect them but by the way the pre-election polls are turning out already with people rallying behind worthless people like Michele Bachmann and Sarah Palin... well, it's not looking good for the US. We already see great disapproval for Obama in spite of most of the pomegranate going on in the USright now being the fault of republicans and tea partiers. It just seems incredibly unlikely that the United States will see another democrat in office after the 2012 election. I mean, even Canada is being overrun by idiot conservatives. People are dumb.