debt-ceiling compromise

Obama promised that this is just the "first step" in "ensuring that as a nation, we live within our means." Except for private equity firms and hedge funds, who are allowed to fudge a little.

New York Senator Kirsten Gillibrand, who voted "no," said in a statement, "This deal...is an unbalanced approach that cuts deeply into discretionary spending while being overwhelmingly stacked in favor of large corporations."

Joe Biden and House Democrats called tea party Republicans "terrorists" in a closed-door meeting today to rally support around the debt-ceiling compromise.