President Obama signed the emergency debt ceiling legislation into law yesterday just hours before a midnight deadline to get a deal done.
The measure provides an immediate $400 billion increase in the $14.3 trillion U.S. borrowing limit, with $500 billion more assured this fall. Later this year, a special bipartisan 'supercommittee' will come together to draft legislation to find up to $1.5 trillion more in deficit cuts.
Today on American Morning, Kiki McLean, Democratic strategist, and Margaret Hoover, author of "American Individualism: How a New Generation of Conservatives Can Save the Republican Party," join Christine Romans to discuss how the American public reacted to negotiations and where lawmakers will go from here.
soundoff (No Responses)