Congressional leaders rush to push through a debt deal

President Barack Obama and congressional leaders struck a compromise to raise the U.S. debt limit and reduce government spending. The House and the Senate are expected to vote on the agreement today. "The leaders of both parties in both chambers have reached an agreement that will reduce the deficit and avoid default," Obama said. "This compromise does make a serious down payment on the deficit reduction we need. Most importantly, it will allow us to avoid default."

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