WASHINGTON – JULY 31: In this handout provided by the White House, U.S. President Barack Obama (L) and Vice President Joe Biden shake hands in the Oval Office following a phone call with House Speaker John Boehner securing a bipartisan deal to reduce the nation’s deficit and avoid default July 31, 2011 in Washington, DC. Obama announced that congressional leaders had reached a tentative agreement to extend the federal debt limit while enacting spending cuts. (Photo by Pete Souza/The White House via Getty Images)