Tuesday, August 2, 2011
Debt Ceiling Plan Clears Both Houses of Congress
VOAVideo: Debt Ceiling Plan Clears Both Houses of Congress
Voting on a deficit reduction plan is over in the U.S. Congress. Legislation raising the debt ceiling and cutting spending passed the U.S. House of Representatives Monday night and the U.S. Senate Tuesday, just in time for the August 2 deadline. On that day, economists had warned the U.S. would no longer be able to service its debt payments. Meantime, global market analysts seem to be several paces ahead, pondering how far the agreement goes in saving a weak U.S. economy. VOA's Laurel Bowman explores.