Last week, Congress reached an agreement to reduce the deficit and avoid a default that would have devastated our economy. This compromise – which guarantees more than $2 trillion in deficit reduction – is an important first step to ensuring that we live within our means as a nation.
At the same time, the debt deal allows us to keep making key investments in things like education and research that lead to new jobs. We’re also not cutting too abruptly while the economy is still fragile.