BusinessInsider writes: “welcome to the final Sunday before August 2, the day the US is scheduled to default for the first time if no debt ceiling deal is reached.
Last night a vote in the Senate was delayed to give The White House and Congressional leaders more time to hammer out a deal, which was said to be close.
This morning a "tentative" framework for a deal has been reached, and congressional leaders are discussing it with their members.
The basic idea: The debt ceiling is hiked in two stages the first with cuts agreed to now, and the second with cuts agreed to by a committee….
Don't touch that dial, sports fans...
Read more: http://www.businessinsider.com/live-coverage-debt-ceiling-sunday-negotiations-2011-7#ixzz1ThhclSzt
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