Global Politics

Congress to Vote on Debt Deal

The Congress is preparing to vote on a deal struck between the White House and party leaders that would end weeks of uncertainty and avoid a default. Sunday's deal would raise the debt ceiling by up to $ 2.4 trillion from the current $ 14.3 trillion and would cut the US budget deficit by a similar amount. A bipartisan commission will also be set up to seek further reforms. Global financial markets initially reacted positively but Wall Street went into reverse as initial optimism over an agreement fizzled out. Meanwhile, concerns abroad remain about America's standing in the world. Anchor Lisa Mullins speaks with Ryan Avent of The Economist.

Player utilities

This story is based on a radio interview. Listen to the full interview.