"much bigger cuts will be needed to resolve the U.S. debt problem."

http://www.vancouversun.com/news/Obama+speak+after+Senate+vote+debt+deal/5192886/story.html

“"The resolution to the debt ceiling does remove one cloud of uncertainty but it does not change the economic reality," said Greg McBride, senior financial analyst at Bankrate.com. "It's going to take years to come out of this. We're sitting in the terminal waiting for the economy to take flight and instead it's just being delayed month after month after month." Angel Gurria, head of the Organization for Economic Co-operation and Development club of industrialized nations, said the last-minute U.S. debt deal brought a "general sense of relief" but further negotiations involving much bigger cuts will be needed to resolve the U.S. debt problem.” Yup, markets didn’t fall for it. Washington may believe it’s own lies and fuzzy math, but credit agencies still recognize deficit spending is bad.