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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: locogringo who wrote (54386)	8/1/2011 5:10:38 PM
From: DuckTapeSunroof	1 Recommendation Read Replies (2) \| Respond to of 103300

Budget analysis says debt-limit deal saves $2.1 trillion Aug 01, 2011 By Catalina Camia, USA TODAY content.usatoday.com The non-partisan Congressional Budget Office has weighed in on the debt-ceiling agreement, saying the deficit would be reduced by at least $2.1 trillion over 10 years. The CBO analysis, or "score" as it is known on Capitol Hill, is good news for President Obama and congressional leaders as they try to sell the plan to skeptical lawmakers. Votes are likely today on the proposal, which is aimed at averting a government default. The budget office affirmed what Obama and congressional leaders in both parties have been saying since the deal was struck last night: There would be up-front savings of $917 billion from 2012 to 2021 -- the same amount as contained in a plan by House Speaker John Boehner. The independent budget analysts say deficits would be reduced by an additional $1.2 trillion over the 10-year period, contingent upon the work done by a new, special committee of Congress or the automatic spending cuts that would take effect if the committee couldn't get its recommendations passed by Congress. The "super" committee of Congress -- made up of six Republicans and six Democrats -- is generating a lot of concern by lawmakers of both parties who are unhappy with leaving decisions on deficit reduction to the new panel. The committee, which will be tasked with issuing recommendations before Thanksgiving, would have broad sway on spending cuts as well as changes to entitlements and proposals to overhaul the tax code.