American Morning

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August 1st, 2011
10:03 AM ET

Gene Sperling: 'There's more shared sacrifice in how we're cutting spending'

The White House reached a deal with Congressional leaders yesterday to avert a debt default, but not all members of President Obama's party are happy about the prospect of enacting spending cuts without raising revenue.

The deal is being heavily criticized in numerous editorials this morning, with many Democrats saying that the President capitulated on shared sacrifice.

Gene Sperling, director of the National Economic Council in the White House, joins Carol Costello on American Morning today to respond to these negative reactions and to discuss what Democrats got out of the deal.

Filed under: Budget • Debt • Debt ceiling • Deficit • Economy
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