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Obama Says Leaders Have Reached Agreement on Debt, Deficit

President Barack Obama speaks in Washington, DC. Photographer: Mandel Ngan/AFP/Getty Images
President Barack Obama speaks in Washington, DC. Photographer: Mandel Ngan/AFP/Getty Images

July 31 (Bloomberg) -- President Barack Obama announced tonight that leaders of both parties in the U.S. House and Senate had reached an agreement to raise the nation’s debt ceiling and cut the federal deficit.

“The leaders of both parties in both chambers have reached an agreement that will reduce the deficit and avoid default,” Obama said in remarks at the White House.

To contact the reporter on this story: Mark Silva in Washington at msilva34@bloomberg.net

To contact the editor responsible for this story: Mark Silva at msilva34@bloomberg.net

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