The Debt Ceiling Deal

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Senator Mitch McConnell on his way to the Senate to announce the debt ceiling deal, Sunday, July 31.(AP Photo/Harry Hamburg)

Hour 1

The House of Representatives passed the debt ceiling deal late Monday night. Now it’s on to the Senate for a vote.  The new agreement raises the debt limit $2.4 trillion in exchange for $900 billion in spending cuts over the next ten years.  The deal also sets up a bipartisan Congressional committee to identify further spending cuts of more than a trillion dollars to be agreed on later this year.  This hour, we’ll get analysis of the new debt ceiling agreement, including the political and economic implications, from guests ROSS BAKER, a professor of political science at Rutgers University, and SUSAN FERRECHIO, Chief Congressional Correspondent for The Washington Examiner.

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[audio: 080211_100630.mp3]

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