Monday, August 1, 2011

CBO confirms that debt-ceiling plan would cut $2.1 trillion

The nonpartisan Congressional Budget Office on Monday confirmed that the
debt-ceiling compromise now slowly working its way through a political
minefield would cut deficits by at least $2.1 trillion over 10 years.

The finding, reported in a letter to Speaker John A. Boehner (R-Ohio)
and Senate Majority Leader Harry Reid (D-Nev.), is fresh ammunition for
supporters of the plan in the face of conservative opposition that the
spending cuts are too small.

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