posted on Aug, 2 2011 @ 04:44 AM
The U.S. Senate is scheduled to take up the debt-ceiling deal at noon Tuesday Aug 2 2011.
The agreement reached Sunday by President Barack Obama and congressional leaders from both parties calls for up to $2.4 trillion in savings over the
next decade, raises the debt ceiling through the end of 2012 and establishes a special congressional committee to recommend long-term fiscal
The legislation needs to reach Obama's desk on Tuesday. If the current $14.3 trillion debt limit is not increased by that point, Americans could face
rapidly rising interest rates, a falling dollar and shakier financial markets, among other problems.
What are your thoughts on this ATS?