The bipartisan deal to keep the United States from defaulting has passed the house and now goes to the Senate. The Senate is now hammering out a deal for a vote tomorrow.
Perhaps bigger than the applause for the bills passage was the appearance of congresswoman Gabriel Gifford's who showed up to vote yes for the bill. This was Gifford's first appearance since she was shot in the head in January. Still, many House members were against the compromise. Congressman Randy Neugebauer voted against the bill.
"The agreement wasn't enough to me, because right now we're borrowing 42 cents for every dollar we spend. If families can't do that, businesses can't do that, then certainly the government can't do that and I just don't feel like the things we did tonight made big dents in that," Congressman Randy Neugebauer said.
The compromise plan would cut about $1 trillion in spending right away, leaving a new bipartisan super committee to find another $1.5 trillion in savings by November. If Congress fails to act on those recommendations this year, broad spending cuts are triggered, like cuts in defense spending.
"That's another reason why I did not support the bill tonight. Because were making defense take a disproportionate share of the cuts and we shouldn't be automatically doing those kinds of things; we should be doing things in an order process," Congressman Neugebauer continued.
"This gives each party a strong incentive to get a balanced plan done before the end of the year," President Barack Obama explained.
Now it's up to the Senate to vote before the deal can be sealed.
"If we don't fix this problem were going to have an even bigger problem than that. We'll have so much debt that all of our federal revenue will go to pay interest, and basically we'll be mortgaging the future of our children and our grandchildren. I don't think that's ok and I don't think the American people think that's acceptable either," Neugebauer said.
A Senate vote is set for Tuesday; approval is needed to avert a possible national default.