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Debt Deadline: Done Deal?

Can Congress come up with a deal to raise the debt ceiling before midnight?
(NBC News)It looks like a last minute deal has prevented disaster of the first-ever default on the federal debt, that could have begun at midnight.

Republicans, hammered in public opinion polls ,gave in and accepted the same terms President Obama and his democrats have demanded for months.

On the last day, senate republicans cut a deal with democrats and Speaker John Boehner could allow a vote in the house even if most republicans there would vote no.

The plan would reopen government through January 15th with back pay for furloughed federal workers, and raise the debt ceiling through February 7th.

The progress prevents America's first financial default.

"Political adversaries set aside their differences and disagreements to prevent that disaster," said Senate Majority Leader Harry Reid.

Despite the move, senate republicans still vow to roll back Obamacare.

"But for today for today the relief we hope for is to reopen the government and avoid default," said Senate Minority Leader Harry Reid.

Tea party Senator Ted Cruz objected.

"The deal that has been cut provides no relief to the millions of Americans who hurting because of Obamacare," said the republican Cruz.

But Cruz said he will not filibuster to block the vote.

Tea Party house republicans conceded defeat, this time.

"You know, anytime you stand up for the American people it's worth it," said Idaho Congressman and Tea Party conservative Raul Labrador.

Ohio republican and Tea Party conservative, Jim Jordan says the fight over Obamacare will go on.

"Will you do this fight again? I mean I think that's unlikely but i do think what we'll continue to do is make those arguments," Jordan said.

Democrats, publicly, did not gloat

"There are no winners here, said White House Spokesman Jay Carney.

All of this as the Senate and House get set to formalize the deal both sides looked ahead to the next round.
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