of high political drama and skirting right up to the edge of a midnight shutdown, the
open for business
today. and while that has members of congress patting themselves on the back for working out a
compromise, it was
who was out running a
today, literally jaunting up the steps of the
this afternoon. the president greeted surprised tourists at one of the places that stood to close if that
deal hadn't been done. but for all the congratulations, the $38 billion lawmakers trimmed out of the
amounts to just a drop in the buck net the face of a $14 trillion debt. and more money battles are just around the corner. nbc's mike viqueira begins our coverage. he's at the
. they are calling it the biggest cut to annual
. today, both sides are taking credit, even as they prepare for a bigger
battle to come.
this is what america is all about.
surprised tourists today at the
, highlighting the end, for now, of the
. and that the government is
open for business
because congress was able to settle its differences, that's why this place is open today and everybody is able to enjoy their visit. and that's the kind of future cooperation i hope we have going forward.
the agreement was reached just
before the government would have partially shut down. even as he hailed the deal, mr. obama warned the cuts would be painful.
beginning to live within our means is the only way to protect those investments that will help america compete for new jobs. investments in our kids' education and student loans. in
it was a dizzying day of trading offers and racing the clock.
this has been a lot of discussion and a long fight. but we fought to keep
down because it really will, in fact, help create a better environment for job creators in our country.
the agreement trims $38.5 billion from this year's
. that's $5.5 billion higher than the president wanted early in the week. in the end, both sides claimed victory.
we've agreed to an historic amount of cuts for the remainder of this fiscal year.
but there was a final sticking point. republican demands to cut
for family planning clinics, including
, which, among its medical services, performs some abortions with nontaxpayer funds. in the end, democrats won out and the measure was dropped. but the
battles may have just gotten started. all told, the new agreement cuts just $1 in $100 of federal spending. next week house republicans will vote on a much bigger, even more controversial plan to slash the
, begin with next year's
if we stay on the current path, we are heading toward a debt-fueled
. meaning massive tax increases, sudden cuts to vital programs, runaway inflation or all three.
and republicans in the house would get there in their debt reduction plan by making what are already controversial changes to medicare. democrats are calling it a privatization scheme. one thing everyone can agree on, unless fundamental changes are made to those
medicare and medicaid
, that reduction will not happen.