DemocracyNow.org - President Barack Obama welcomed the deficit deal as "an important first step" and urged both parties to work together on a larger plan to cut the deficit. The deal includes no new tax revenue from wealthy Americans and no additional stimulus for the lagging economy. It has a provision to create a joint committee of 12 legislators charged with finding $1.5 trillion in deficit cuts. The committee must hold its first meeting in 45 days and is expected to set in motion a lobbying frenzy. For more, Democracy Now! speaks with Democratic Rep. Donna Edwards of Maryland, who voted against the plan, and economist Dean Baker, co-director of the Center for Economic and Policy Research.
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