The new Obama-Boehner-Reid plan cuts the deficit by about $2.1 trillion by 2021, according to the non-partisan Congressional Budget Office (CBO). The first tranche of cuts will total $917 billion, coupled with a $900 billion debt ceiling increase; a special committee tasked with cutting an additional $1.5 trillion will be set up to get the rest of the task done by Thanksgiving.
Paul Krugman And Ron Paul Agree: Debt Ceiling Deal Sucks
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