Debt Deal Official

From Yahoo News:
"Obama signs debt bill after final Senate vote"

The Senate emphatically passed emergency legislation Tuesday to avoid a first-ever government default, rushing the legislation to President Barack Obama for his signature just hours before the deadline. The vote was 74-26. Obama signed the bill little more than an hour later. Tuesday's vote capped an extraordinarily difficult Washington battle pitting tea party Republican forces in the House against Obama and Democrats controlling the Senate. The resulting compromise paired an essential increase in the government's borrowing cap with promises of more than $2 trillion of budget cuts over the next decade. Many supporters of the legislation lamented what they saw as flaws and the intense partisanship from which it was forged. In the end, it was a lowest-common-denominators approach that puts off tough decisions on tax increases and cuts to entitlement programs like Medicare. The measure would provide an immediate $400 billion increase in the $14.3 trillion U.S. borrowing cap, with $500 billion more assured this fall. That $900 billion would be matched by cuts to agency budgets over the next 10 years.

^ Well it's now official. I don't think this deal does anything major (except stop the US from defaulting on it's loans.) The major issues of Medicare cuts and taxes were pushed to the back burner. We still need to keep Obama, the Democrats and the Republicans accountable for putting us in this situation in the first place - the first time in our nation's history. I hope that the new government committee will be able to tackle the major issues, but I am not going to hold my breath. ^

http://news.yahoo.com/obama-signs-debt-bill-final-senate-vote-180918112.html