why this place is open today and everybody is able to enjoy their visit, and that s the kind of future cooperation i hope that we have going forward. this is what america is all about. reporter: the deal was made 90 minutes before the government would have partially shut down. and the president agrees the budget cuts he agreed to will be painful. it will help america compete for new jobs. house speaker john boehner is getting good reviews from republicans. this has been a lot of discussion, and a long fight. but we fought to keep government spending down because it will help create a better environment for job creators in our country. reporter: the new agreement cuts $1 in $100 in federal spending. and next week they will vote on a bigger plan to slash the national debt, beginning with
90 minutes before the government would have partially shut down, and the president warned the budget cuts he agreed to would be painful. but living within our means is the only way to protect the investments that will help america compete for new jobs. reporter: house speaker, john boehner, is getting good reviews from republicans. there has been a long discussion and a long fight, but we fought to keep government spending down because it really will, in fact, create a better environment for job creators in our country. reporter: the new agreement cuts $1 in $100 in spending. next week they will vote on a bigger plan to slash the national debt beginning with next year s budget. frank: we stay on the current bath, we are heading towards a debt-fueled economic crisis, meaning sudden cuts to vital programs, inflation, or all
annual spending cut in our history. like any worth while compromise, both sides had to make tough decisions and give ground on issues that were important to them and i certainly did that. some of the cuts we agreed to will be painful. programs people rely on will be cut back, needed infrastructure projects will be delayed. and i would not have made these cuts in better circumstances. but beginning to live within our means is the only way to protect those investments that will help america compete for new jobs. that temporary measure the president is expected to sign that shortly, actually got word from ed henry reporting from the white house, telling him the president could sign it as early as 10:00 a.m. eastern time, about an hour and a half. these deals are done, took up until the last minute. how do the american people see this playing out? join our political director paul steinhouse in washington for us. good morning to you. the americans see what they
but 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 and clean energy and life saving medical research. we protected the investments we need to win the future. so you see there the president speaking to the american people after 11:00 eastern time and that was less than an hour before the government was set to shut down. the deal is done. plenty of finger pointing and back and forth going on around. we want to know what you think about this all. who are the winners here and losers? are there winners and losers? we want your comments. go to my blog, cnn.com/t.j. or find us on facebook and twitter as well. we ll read your responses later in the show. we need to turn now to the middle east. tell me if this looks familiar to you. demonstrators in cairo s tahrir square there to protest egypt s
vote yet tonight on a short-term continuing resolution in the next week to allow for time for this agreement to be put together in legislative form and brought to the floor of the house and senate for a vote. this agreement between democrats and republicans on behalf of all americans is on a budget that invests in our future while making the largest annual spending cut in our history. some of the cuts we agreed to will be painful. programs people rely on will be cut back. needed infrastructure projects will be delayed. and i would not have made these cuts in better circumstances. but 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. and clean energy and life-saving elmedical research. we protected the investments we need to win the future.