The director of the Office of Management and Budget at the White House talks about the effects of the deal, and what he hopes for in discussions between the political parties in the future
Voting gets underway today on a plan to raise the nation's debt ceiling. The proposal calls for $2.4 trillion in cuts over the next decade, including to defense and entitlement programs.
Economist Julia Coronado says jobs and economic data indicate the economy needs help — not cuts. But despite the headwinds, economy is not heading to recession.
Republican and Democratic lawmakers are expected to vote today on the tentative deal to raise the debt ceiling. But it's unclear what, if any, of the budget solution will come from taxes.
Moody's Analytics chief economist Mark Zandi says that the debt deal is a good first step, and that he expects the U.S. to keep its top-notch credit rating.
Democrat and Republican leaders have reached a tentative deal to raise the U.S. debt ceiling. But most analysts say this compromise is far from a cure-all for what ails the U.S. economy.
