Ward Room
Covering Chicago's nine political influencers

Deal A Big Win For Americans: Kirk

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    NEWSLETTERS

    Sen. Mark Kirk says the deal is a success for Republicans and Democrats alike and that the agreement "perhaps" could be passed Monday, for sure on Tuesday. (Published Tuesday, Aug 2, 2011)

    Sunday's debt announcement signaled relief for investors around the world. And though Illinois residents worry about cuts in senior services and retirement income, Sen. Mark Kirk on Monday remained optimistic.

    Kirk called the deal a big win for the United States, saying Washington will meet its obligations and avoid a debt crisis.

    The Republican senator said a vote on the deal could come Monday but most likely on Tuesday. The vote count looks like a "pretty heavy bipartisan majority" in the Senate, he said, and it's expected the House will back the agreement as well.

    Sen. Dick Durbin (D-Ill.) wasn't so overjoyed with plan but said in a statement Sunday night that it's a needed first step.

    "This deal is not perfect," Durbin said, "but in the end ... [it] will begin the process of reducing our deficits and ensuring our long-term recovery."

    How will Illinois be affected?

    "For Illinois it means that we have no credit crisis," Kirk told NBCChicago. "I think that growing sense of fear will dissipate as the day moves forward, and it's shown that the economic conservatives and Democrats have joined together to pass this bill to not only cut spending but defend our AAA credit rate."
     
    On Friday the Illinois state treasurer said he's ready to move millions in case of default.

    “I want my office to be well prepared and positioned to shift investment strategies if the national debt ceiling is not raised," Dan Rutherford said in a statement. "My number one priority is to safeguard the state portfolio from losses, earning a return is second."

    There could be a vote as early as Monday.