Mass. leaders examining possible debt deal fallout

Associated Press | 8/9/2011, 11:59 p.m.

“One of the reasons I came to the Senate was to help stop out-of-control spending. I voted for the compromise debt bill because it avoids default, significantly cuts spending and doesn’t raise taxes,” Brown said in statement.

The budget cutting isn’t over.

The bill signed by President Barack Obama creates a new congressional committee to recommend additional cuts. Nothing will be off limits to the committee.

“The real fight lies ahead of us,” Kerry said.

Gov. Deval Patrick said that new tax revenues need to be part of any future debate about how to curb the nation's debt.

“I look forward to the president’s leadership on a larger, balanced deficit reduction plan that both reforms entitlement and defense programs and raises revenue,” Patrick said in a statement. “We need to invest to grow our future and cuts alone won’t do that.”

The state’s mayors urged Congress and Obama to focus on ways to boost employment and shore up the economy for struggling families.

They say the best way to help get the country back on its feet is to invest in programs that will spur economic growth.

“While the debt ceiling compromise is to be applauded for averting immediate economic chaos ... it unfortunately does nothing to bolster the nation’s fragile economic recovery. In fact, this compromise may even jeopardize it,” New Bedford Mayor Scott Lang, president of the Massachusetts Mayors Association, said in a letter to Obama and congressional leaders.

Associated Press