The debt deal: Winners and losers

Republicans and Democrats have hammered out a last-minute agreement to raise the debt ceiling and cut over $2 trillion. If it passes, will anyone be happy?

Sen. Mitch McConnell (R-K.Y.)
(Image credit: Astrid Riecken/Getty Images)

Late Sunday, President Obama and the Republican and Democratic leaders of Congress agreed on a deal to raise the debt limit, in the last best hope for averting a punishing U.S. debt default starting Tuesday. The plan cuts about $1 trillion in spending over 10 years, creates a 12-member congressional panel that will reduce the deficit by at least another $1.2 trillion or trigger automatic spending cuts, and effectively raises the debt limit through the 2012 election. While both houses of Congress are expected to vote on the plan Monday, passage is uncertain, especially in the House. If the plan is enacted, who wins and who takes a beating?

WINNERS

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