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Obama announces deal reached to end debt crisis

U.S. President Barack Obama delivers a statement on the U.S. debt ceiling talks at the White House in Washington
U.S. President Barack Obama delivers a statement on the U.S. debt ceiling talks at the White House in Washington

WASHINGTON (Reuters) - President Barack Obama announced on Sunday that Democrats and Republicans leaders have reached an agreement to reduce the U.S. deficit and avoid default.

Obama said the agreement will cut about $1 trillion over 10 years..

(Reporting by JoAnne Allen)

(This story corrects the date of Obama's announcement to Sunday)

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