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White House urges Congress to pass compromise debt deal

01 August 2011 22:20 (UTC +04:00)

Baku-APA. The White House urged on Monday the Congress to swiftly pass the compromise debt ceiling package emerging on Sunday to avert an unprecedented debt default crisis, APA reports quoting Xinhua.

The bipartisan deal was a victory for American people, White House spokesman Jay Carney told reporters on Monday, urging Congress to pass it and lift the uncertainty cloud over the U.S. economy.

U.S. President Barack Obama announced Sunday night that he had reached a last-minute debt ceiling deal with Republican and Democratic leaders.

The plan aimed at slashing deficit for more than 2 trillion dollars over 10 years, setting up a powerful new congressional bipartisan committee to find new ways on deficit cutting, and raising the U.S. borrowing limit through 2013.

U.S. Vice President Joe Biden Monday went to the Capitol Hill to sell the compromise package to Democratic lawmakers.

This tentative proposal still needs to clear a Democratic- controlled Senate and a Republican-held House.