Apparently the deal is very close to coming together.
Exactly like I figured it would, and they even included some of the provisions that I think are very important.
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Appearing on CNN and CBS, Mr. McConnell said he hoped to soon be able to present to his fellow Republicans an agreement “that they'll consider supporting.” That agreement would include raising the debt ceiling, cutting spending by some $1-trillion initially and creating a joint committee of members of Congress that would look at a larger plate of cuts including tax and entitlement changes.
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Mr. Schumer later told CBS that one of the last sticking points is the creation of a “trigger” mechanism that would hit priorities of both parties if the committee does not come up with a plan for further deficit reduction.
Among the trigger ideas being discussed are automatically reducing spending on entitlement programs such as Medicare along with closing tax loopholes or reducing defence and non-defence programs by an equal amount.
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