August 1, 2011 / 12:51 AM / 6 years ago

Obama announces deal reached to end debt crisis

WASHINGTON (Reuters) - President Barack Obama announced on Sunday that Democrats and Republicans leaders have reached an agreement to reduce the U.S. deficit and avoid default.

Obama said the agreement will cut about $1 trillion over 10 years..

(Reporting by JoAnne Allen)

This story corrects the date of Obama's announcement to Sunday

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