Biden to sell US debt deal during trip to China, Japan

[The Northerner]

Vice President Biden will tout the debt ceiling deal during a trip to China and Japan, two holders of huge amounts of U.S. debt.

Biden will travel to top lender China on Wednesday and to Japan, the second-biggest holder of U.S. bonds, on Aug. 22.

The vice president “will be in a good position to talk about the very strong deficit package that we concluded here recently,” Undersecretary of the Treasury Lael Brainard told reporters on Monday in comments previewing the vice president's visit.

The debt-ceiling deal signed by President Obama could cut up to $2.5 trillion from budget deficits over the next decade, but it was a smaller package than the grand bargain Obama flirted with striking.

Read more: http://thehill.com/blogs/on-the-money/budget/176951-biden-to-sell-debt-ceiling-deal-to-chinese