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Aug 3, 2011

Graph: United States Debt Deal

Yesterday the United States Government Debt Deal to raise the debt ceiling was signed by president Obama after it passed both the House and the Senate. 
  • The deal will allow president to raise the debt ceiling by at least 2.1 trillion dollar.
  • Total of 2.4 trillion dollar budget savings over 10 years.
    • Of which 917 billion dollar in discretionary (optional) spending now, including 350 billion dollar on the defense budget.
    • A 12-member congressional committee will fill in the rest of the 1,5 trillion dollar by November 23. Congress will vote about the results on December 23.

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