Posted by | July 31, 2011 18:11 | Filed under: Top Stories

Harry Reid is the first top congressional leader to announce support.

The tentative agreement would guarantee enough borrowing authority to keep the government afloat into 2013.

The measure would provide an immediate hike in the debt limit, accompanied by the promise of trillions of dollars in future spending cuts.

Cuts in spending would be phased in over a decade. Social Security and Medicare benefits wouldn’t be cut, and taxes would be unlikely to rise.

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Copyright 2011 Liberaland
By: Alan

Alan Colmes is the publisher of Liberaland.