President Obama Announces Budget Deal to Reduce Deficit, Avoid Default, July 31, 2011

Washington, DC–(ENEWSPF)–July 31, 2011 – 8:40 P.M. EDT President Obama announced that a deal had been reached to raise the national debt limit while reducins government spending and the deficit, avoiding default.

THE PRESIDENT: Good evening. There are still some very important votes to be taken by members of Congress, but I want to announce that the leaders of both parties, in both chambers, have reached an agreement that will reduce the deficit and avoid default…