Harry Reid, Federal Deficit | featured news

Senate Majority Harry Reid and Senate Minority Leader Mitch McConnell announced Sunday night that they had come to an agreement on a deal that would raise the debt limit and reduce the deficit.

Frustrations mounted in the continuing battle over the debt ceiling with Reid saying Cantor "shouldn't even be at the table." The comments come as credit-rating firms moved closer to an unprecedented downgrade of the U.S.'s debt.

The Senate will forgo its scheduled recess for the week of July Fourth to work on cutting the deficit, Sen. Harry Reid said today.

President Barack Obama and Vice President Joe Biden will meet Monday with Senate Majority Leader Harry Reid and Senate Minority Leader Mitch McConnell to discuss "the status of the negotiations to find common ground on a balanced approach to deficit reduction," according to the White House.