Politics & Government

Debt Ceiling Agreement Spares Loma Linda/Redlands From Benefits Loss

Had a deal not been reached, the federal government would have been unable to meet all of its spending obligations by sometime in August.

President Barack Obama and congressional leaders have reached an agreement on the debt ceiling limit avoiding a possible delay in benefits checks to thousands of Loma Linda and Redlands residents who rely on Social Security and unemployment benefits.

News reports called the deal a historic agreement on a compromise to permit vital U.S. borrowing by the Treasury in exchange for more than $2 trillion in long-term spending cuts.

Had a deal not been reached, the federal government would have been unable to meet all of its spending obligations by sometime in August possibly forcing the delay of thousands of checks to seniors the unemployed.

Find out what's happening in Redlands-Loma Lindawith free, real-time updates from Patch.

Republican Speaker John Boehner called Obama Sunday evening to say the agreement had been struck, reports said.

For details on the negations, check out AOL’s story

Find out what's happening in Redlands-Loma Lindawith free, real-time updates from Patch.


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