Major Garrett on Aftermath of Debt Deal
President Obama announced on Sunday evening a deal with congressional leaders to raise the nation’s $14.3 trillion debt-ceiling limit to avoid default. The compromise extends borrowing authority by at least $2.1 trillion, with no threat of congressional obstruction, and provides for nearly $1 trillion in spending cuts over 10 years by establishing spending caps.
Neither party is particularly thrilled with the deal. House Speaker John Boehner declared it a victory, but he told his GOP Conference on a members-only call, "This isn't the greatest deal in the world. But it shows how much we've changed the terms of the debate in this town."
With many details still to be worked out by a newly created joint committee, here’s an early look at some of the winners and losers of the debt-ceiling deal: