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President Obama and leaders of the Senate say they’ve cut a deal to head off a historic American default.

“Leaders from both parties have come together for the sake of our economy to reach a historic, bipartisan compromise that ends this dangerous standoff,” said Senate Majority Leader Harry Reid (D-Nev.) on the Senate floor Sunday night.

“At this point I think I can say with a high degree of confidence that there is now a framework to review that will ensure significant cuts in Washington spending,” said Senate Minority Leader Mitch McConnell (R-Ky.).

“We can assure the American people tonight that the United States of America will not for the first time in our history default on its obligations,” McConnell said.

Read more at the Huffington Post


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