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.